If you earned or sold crypto in Spain this year, knowing exactly how much tax you owe is crucial. Many investors are surprised to learn that Spain applies different tax brackets depending on whether the income is from savings or general earnings. This makes understanding the rules even more important.
In 2025, the Agencia Tributaria will continue to closely monitor crypto, requiring all disposals and income to be reported within strict deadlines. By learning which tax bracket applies to your transactions, you can prepare in advance and avoid costly mistakes. This guide breaks down the latest income tax brackets for crypto in Spain and shows you how to apply them to your specific activities.
How Is Crypto Taxed in Spain?
Spain taxes cryptocurrency based on how it is used and the type of income it generates. Understanding the distinction between savings income and general income is essential, as each category has its own tax brackets and rules. Other taxes, such as Wealth Tax or Inheritance and Donations Tax, may also apply depending on your situation.
Savings Income Tax
Savings income tax applies to capital gains earned from disposing of cryptocurrencies. This includes selling for euros, trading for another token, or using crypto for purchases. The tax is progressive, with rates ranging from 19% to 28% depending on your total profit.
General Income Tax
General income tax covers earnings made directly in cryptocurrency. This includes activities like mining, airdrops, referral rewards, or receiving your salary in crypto. The rates are progressive and range between 19% to 47% depending on your total income and region of residence.
Other Applicable Taxes
Cryptocurrencies may also fall under other tax categories. Wealth Tax applies if your total assets, including crypto, exceed the exemption threshold set by your autonomous community. Additionally, Inheritance and Donations Tax is due when you inherit or receive cryptocurrencies as a gift, with rates varying by region.
Read More: Crypto Taxes In Spain: Ultimate Tax Guide
Crypto Transactions That Attract Savings Income Tax in Spain
Many common transactions fall under savings income tax because they are considered disposals that generate capital gains. Understanding which activities fall into this category helps you apply the correct tax brackets and report them accurately.
Selling Crypto for Euros
When you sell cryptocurrency for fiat currency such as euros, any profit you make is taxed as savings income. The taxable amount is the difference between the selling price and the original cost basis, including any fees paid during acquisition.
Trading One Cryptocurrency for Another
Swapping one cryptocurrency for another is treated as a taxable disposal in Spain. The value of the new token received in euros is compared against the cost of the token disposed of. Any profit realised is taxed under the savings income brackets.
Using Crypto for Goods and Services
If you pay for goods or services with crypto, the Agencia Tributaria considers it a disposal. The difference between the market value of the crypto at the time of use and its cost basis is calculated as capital gain, which is taxed as savings income.
Wrapping or Converting Tokens
Activities such as wrapping tokens are also treated as disposals in Spain. The value of the wrapped token is compared to the original token, and any gain is subject to savings income tax.
Crypto Savings Income Tax Brackets in 2025
Savings income tax applies when you dispose of your cryptocurrency in Spain. This includes selling for euros, trading for another token, or even using crypto to pay for goods and services. The Agencia Tributaria applies progressive tax brackets, meaning different portions of your profit are taxed at different rates rather than one flat rate.
Profit Range | Tax Rate |
Up to €6,000 | 19% |
€6,001 to €50,000 | 21% |
€50,001 to €200,000 | 23% |
€200,001 to €300,000 | 27% |
Above €300,000 | 28% |
Example:
To better understand how Spain’s progressive system works, let us take the case of an investor who made €60,000 in crypto profits in 2025. The profit is divided across brackets, and each portion is taxed separately.
Step 1: Apply the First Bracket
- Profit portion: €6,000
- Tax rate: 19%
- Tax owed: €1,140
Step 2: Apply the Second Bracket
- Profit portion: €44,000 (from €6,001 to €50,000)
- Tax rate: 21%
- Tax owed: €9,240
Step 3: Apply the Third Bracket
- Profit portion: €10,000 (from €50,001 to €60,000)
- Tax rate: 23%
- Tax owed: €2,300
Final Calculation
- Total Profit: €60,000
- Total Tax Owed: €12,680
This step-by-step example shows that only part of the profit is taxed at higher rates. Instead of paying 23% on the entire €60,000, the tax brackets ensure a fair calculation across different profit ranges.
Crypto Transactions That Attract General Income Tax in Spain
Not all cryptocurrency earnings are treated the same under Spanish tax law. The Agencia Tributaria differentiates between investment returns and active income, applying different brackets depending on the nature of the activity. Understanding how each type of crypto income is classified ensures that you report it correctly and avoid errors in your tax return.
Mining Income
Crypto earned through mining is classified as a business activity. Miners must register as freelancers under business activity code 832.9. The income is taxed under the general income scale and included in the annual return as business earnings. Expenses related to mining, such as equipment and electricity, may also be deducted where applicable.
Staking Income
Rewards from staking are considered investment income. They are declared in the income tax return at their fair market value in euros on the date received. These rewards are included under the savings income tax brackets, meaning rates between 19% and 28% apply depending on the total amount earned.
Airdrops
Tokens received through airdrops are treated differently. They are classified as income rather than investment gains. The market value of the tokens at the time of receipt must be declared, and they are taxed under the general income scale. This makes them similar in treatment to freelance income or business earnings.
Referral Rewards
Referral rewards, like airdrops, fall under the category of general income. Any tokens received for inviting users or promoting services must be declared at their market value when received. They are taxed under the same general income brackets as other forms of earned income in Spain.
Crypto Received as Salary
If your employer pays you in crypto, it is treated as a regular salary. The value of the crypto at the time of payment must be converted into euros and declared as employment income. This falls under the general income tax brackets and is subject to the same progressive rates as traditional salaries.
General Income Tax Brackets for Crypto in 2025
Not all cryptocurrency earnings fall under savings income. Certain activities, such as mining, airdrops, referral rewards, and salaries received in crypto are classified as general income. These earnings are taxed differently and follow the same brackets applied to other forms of personal income in Spain. Understanding these brackets is key to knowing how much tax you may owe in 2025.
Brackets for 2025
Spain applies progressive rates to general income, with each portion taxed at a specific percentage. These rates are consistent across the country, but regional surcharges may apply depending on your autonomous community.
Income Range | Tax Rate |
Up to €12,450 | 19% |
€12,451 to €20,200 | 24% |
€20,201 to €35,200 | 30% |
€35,201 to €60,000 | 37% |
€60,001 to €300,000 | 45% |
Above €300,000 | 47% |
Example
To clearly show how Spain’s progressive system works for general income, let us consider a freelancer who earns €40,000 in crypto during 2025. The total amount is divided across the income brackets, with each portion taxed separately.
Step 1: Apply the First Bracket
- Income portion: €12,450
- Tax rate: 19%
- Tax owed: €2,365.50
Step 2: Apply the Second Bracket
- Income portion: €7,750 (from €12,451 to €20,200)
- Tax rate: 24%
- Tax owed: €1,860
Step 3: Apply the Third Bracket
- Income portion: €15,000 (from €20,201 to €35,200)
- Tax rate: 30%
- Tax owed: €4,500
Step 4: Apply the Fourth Bracket
- Income portion: €4,800 (from €35,201 to €40,000)
- Tax rate: 37%
- Tax owed: €1,776
Final Calculation
- Total Income: €40,000
- Total Tax Owed: €10,501.50
This example highlights how progressive taxation ensures only the income portion within each bracket is taxed at the higher rate, rather than the entire €40,000 being taxed at 37%.
Filing Deadlines for Crypto Income in Spain
Spanish taxpayers must follow strict timelines when declaring their cryptocurrency earnings. Missing these deadlines can lead to fines or additional interest charges. Knowing when to submit each form ensures you stay compliant with the Agencia Tributaria and avoid unnecessary penalties.
Annual Tax Return
The Spanish tax year runs from January 1 to December 31. All crypto-related income and disposals during this period must be reported in the annual tax return. Filing opens in April and closes on June 30th of the following year. For example, earnings made in 2024 must be declared by 30th June, 2025.
Foreign Holdings
If you hold cryptocurrencies abroad worth more than €50,000, you must file Form 721 (Modelo 721). This declaration must be submitted between January 1and March 31 of the following year. Valuations are based on the average market price as of December 31. Failure to meet this deadline can lead to fines starting at €200.
How Can KoinX Help With Crypto Income Taxes In Spain?
Understanding which bracket your crypto income falls under can be confusing, especially when dealing with different categories such as savings and general income. KoinX provides a simple solution by automating calculations and ensuring every transaction is reported in line with Spanish tax rules. This makes it easier to stay compliant without the stress of manual work.
Automatic Calculation of Gains and Income
KoinX automatically calculates your capital gains and income from crypto. By applying the correct Spanish tax brackets, it ensures that you know exactly how much tax you owe, reducing the risk of mistakes.
Compliance with Spanish Tax Laws
All reports generated by KoinX are designed to comply with Agencia Tributaria regulations. From disposals to income entries, it structures reports to match the requirements of official Spanish forms, such as Modelo 100 and Modelo 721.
Support for 800+ Platforms
With integration across more than 800 exchanges, wallets, and blockchains, KoinX gathers all your data in one place. This eliminates the need to track transactions manually across multiple platforms.
Easy Generation of Spanish-Compliant Reports
KoinX generates tax reports in formats ready for Spanish authorities. These reports can be used directly when completing your tax return, saving time and ensuring accuracy when submitting to the Agencia Tributaria.
By using KoinX, you can remove the complexity from crypto tax filing and focus on your investments with confidence. Start using KoinX today and take control of your Spanish crypto taxes with ease and accuracy.
Conclusion
Spain’s crypto income tax brackets in 2025 make it clear that every type of earning, whether savings or general income, has its own rules and rates. Understanding these brackets helps you calculate your tax liability correctly and avoid unexpected penalties from the Agencia Tributaria.
With the right support, filing does not need to be stressful. KoinX simplifies the process by calculating your gains, categorising your transactions, and generating Spanish-compliant reports. Sign up with KoinX today and make your crypto tax filing in Spain accurate, effortless, and worry-free.
Frequently Asked Questions
Do I Need To Pay Taxes On Crypto Gifts In Spain?
Yes, crypto received as a gift is subject to Inheritance and Donations Tax. The rate depends on the autonomous community where you live and can range widely. The recipient is responsible for declaring the gift, and the tax is based on the market value of the crypto at the time of receipt.
Are Crypto Donations To Charities Tax Deductible In Spain?
Donating crypto to a registered charity in Spain can provide tax deductions. To qualify, the organisation must be recognised under Spanish law as a foundation or an association of public utility. The deduction is based on the fair market value of the crypto donated, so maintaining records is essential.
Does Transferring Crypto Between My Wallets Trigger Tax?
No, transferring crypto between your own wallets is not considered a taxable event in Spain. However, it is important to maintain records of these transfers. Keeping details such as transaction IDs and wallet addresses will help you prove to the Agencia Tributaria that the movement of funds was not a disposal.
What Happens If I Do Not Report My Crypto Holdings Abroad?
Failing to declare crypto holdings abroad worth over €50,000 through Form 721 can result in severe penalties. The Agencia Tributaria may impose fines starting at €200 for late filing or €150 for incorrect information. Non-compliance can also trigger closer monitoring of your financial activities in future years.
Do Crypto Losses Affect My Tax Bracket In Spain?
Yes, crypto losses can reduce your taxable income in Spain. Losses from disposals can be offset against capital gains, lowering your overall liability. If your losses exceed your gains, they can be carried forward for up to four years. However, the tax brackets themselves remain unchanged regardless of losses.
Are Stablecoins Taxed Differently From Other Cryptocurrencies In Spain?
Stablecoins are treated in the same way as other cryptocurrencies for tax purposes in Spain. Disposing of stablecoins, whether through selling, trading, or using them for payments, creates a taxable event. Any profit is subject to savings income tax brackets, just as it would be for Bitcoin or Ethereum.
Do I Need To Convert My Crypto Values Into Euros For Tax Reporting?
Yes, all cryptocurrency transactions must be reported in euros. You must calculate the fair market value of your crypto at the time of each transaction using reliable exchange data. This requirement ensures consistency and accuracy in tax filings and allows the Agencia Tributaria to evaluate your liabilities properly.
