Crypto taxation in Spain: savings income scale, modelo 721
Published on 23/08/2026
The regime that applies to individuals who are Spanish tax residents, sourced on the doctrine of the Agencia Tributaria and the personal income tax law (IRPF). Uncrypt informs, it does not advise: for a specific case, an asesor fiscal remains the right person to talk to.
Of the four regimes compared by Uncrypt, Spain is one of two, along with Germany, that tax every crypto-to-crypto swap without exception. See the full comparison ↗
01A ganancia patrimonial, part of the savings tax base
For an individual acting outside a business activity, selling or exchanging virtual currencies generates a ganancia (or pérdida) patrimonial, calculated as the difference between the disposal value and the acquisition value. This gain is part of the base imponible del ahorro (savings tax base, article 46.b of the IRPF law), the same category as dividends or interest, separate from the general tax base for employment income.
02The 2026 scale: five brackets from 19% to 30%
The savings tax base follows a progressive scale, identical across all 17 autonomous communities (unlike the general IRPF base, whose regional component varies):
| Capital gain bracket | Rate |
|---|---|
| 0 to 6,000 € | 19% |
| 6,000 to 50,000 € | 21% |
| 50,000 to 200,000 € | 23% |
| 200,000 to 300,000 € | 27% |
| Above 300,000 € | 30% |
A marginal scale applied bracket by bracket, not a single rate applied to the whole gain: a 10,000 € capital gain is taxed at 19% on the first 6,000 €, then at 21% on the remaining 4,000 €.
03What triggers tax: swaps and the FIFO method
The Agencia Tributaria's doctrine is explicit on this point, unlike France: a permuta (swap) of one virtual currency for a different one is a taxable operation, on the same footing as converting to euros. The capital gain is then calculated on whichever of the two exchanged assets has the higher market value.
To value partial disposals of an asset acquired at different dates, the tax authority applies the FIFO method ("first in, first out"): the oldest units are deemed sold first. Neither a portfolio-wide weighted average (the French method) nor a choice left to the taxpayer.
04No specific exemption threshold
The Agencia Tributaria doctrine reviewed provides for no de minimis threshold specific to virtual currencies, unlike France (305 €) or Germany (1,000 €): in principle, any capital gain realised enters the IRPF calculation from the first euro.
05Declaring assets held abroad: modelo 721
Since 1 January 2023, a Spanish tax resident whose virtual currencies held on platforms located outside Spain exceed 50,000 € of cumulative value as of 31 December must file modelo 721 by 31 March of the following year. Exactly like France's 3916-bis form, this filing also applies to a platform licensed under MiCA in another EU member state: the regulatory passport does not exempt you from this wealth reporting obligation.
06Wealth tax, above 700,000 €
Worldwide net wealth (crypto-assets included) above 700,000 € can fall under the Impuesto sobre el Patrimonio, whose threshold and rate then vary by autonomous community. Several regions (Madrid, Andalusia, Cantabria, Extremadura, La Rioja, Murcia) apply a 100% rebate, which neutralises the tax in practice for most residents; a separate national solidarity tax nonetheless applies above 3 million euros of net wealth, including in these regions. This point only concerns a minority of holders, but is worth knowing beyond a certain amount.
Sources: Agencia Tributaria, "Compra y venta de monedas virtuales: tributación en el IRPF del inversor" (sede.agenciatributaria.gob.es ↗) · Modelo 721 (sede.agenciatributaria.gob.es ↗) · IRPF law, art. 46.b and 49. Last verified: 23/08/2026.
