This year, the Spanish tax administration intensifies its control operations for cryptocurrency traders.
The Agencia Estatal de Administración Tributaria (AEAT) intends to send 4 times more reminder letters than last year to taxpayers with transactions in cryptocurrency, report EuropaPress.
The agency plans to send approximately 65,000 reviews against only less than 15,000 in 2019 and specifies to maintain its calendar despite the crisis linked to the coronavirus.
In 2018, the Spanish government approved a bill to force citizens to disclose their assets in cryptocurrencies.
According to Bitcoin.fr,Spain apply a taxation between 19 and 23% on the profits from investing in digital assets like Bitcoin. In France, the tax is between 30 and 36%.
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