How to include the ‘bitcoins’ in the income statement

Ethereum, Ripple, Litecoin, NEO or, the best known, Bitcoin. They are all cryptocurrencies, perhaps the most popular, but they represent a very small representation of those on the market. They are countless and every day a new one appears.

Are trendy. So much so, that the calculations made by analysts indicate that more than four million Spaniards, around 10% of the population, own assets of this type. Because that’s how they are considered, active. This means that they must be included in the Income Tax return. This is how it has always been, since its purchase and sale is considered as a profit or loss, depending on the case, equity or a return on movable capital.

It is not, therefore, a novelty that the movements of cryptocurrencies should be taken into account when making the annual income statement. Yes, it is that the Treasury has decided to create a specific box for operations with virtual currencies for the campaign that has already begun.

This is the section ‘Capital gains and losses derived from transfers of other assets’. The key ‘0’ is the one that corresponds to virtual currencies. In this way, cryptocurrencies are separated from the rest of the assets.

In short, their owners must pay taxes on them in the same way as they do on shares or investment funds. But what and how?

To answer some of the questions that arise in this regard, banking entities are offering guides to their customers so that they can do it more easily. For example, among the most common keys, it is detailed that both the amount of cryptocurrencies and their purchase-sale operations must be declared. As it is possible that the same person has carried out an infinite number of operations throughout the year, experts recommend reflecting in the declaration the final aggregate of each one of them.

Likewise, the returns on cryptocurrencies that are not derived from purchase-sale operations, such as ‘staking’ or ‘farming’, must also be declared.

dates

This year’s Income campaign began last Monday, April 4. Since that day self-declarations can be accepted. As of Thursday the 7th, the deadline for submitting the declaration via the internet was opened and from tomorrow, the 12th, you can request an appointment to make the declaration in person. These appointments will begin to take place from next Tuesday, the 19th.

Declarations, like every year, may be submitted, in any of the modalities, until June 30.