Spanish Treasury Releases Guidelines to Minimize the Risk of Tax Evasion With Cryptocurrencies
The State Agency for Tax Administration of Spain published guidelines to reduce tax evasion for cryptocurrencies, such as bitcoin. The document is part of the general program of the so-called Annual Tax and Customs Control Plan.
Spanish Tax Authorities Could Ask Local Exchanges for Customers Data
According to the paper, the Spanish Treasury’s entity seeks to apply three measures, as the crypto markets’ hype generates “tax risks.” That’s why the agency expects to gather information as countermeasures against tax-related crimes.
The watchdog is looking with the first measure to ask for information from the local crypto exchanges about digital asset holders. The document clarifies they’re pursuing such measures to incentivize the voluntary tax payments on crypto transactions.