Rosalia
Tue Jun 11 2024
|
5 answers
1043
What is the crypto declaration in Spain?
Could you kindly explain what exactly is meant by the term "crypto declaration" in the context of Spain? Is it a legal requirement for individuals or businesses involved in cryptocurrency transactions to make a declaration to the authorities? If so, what are the specific details that need to be declared? Additionally, are there any penalties for failing to comply with this declaration requirement? Could you also elaborate on the overall regulatory framework surrounding cryptocurrencies in Spain? I'm particularly interested in understanding how the Spanish government views and regulates this emerging asset class. Thank you in advance for your clarification.
Maria
Sat Jun 08 2024
|
7 answers
1215
What is the crypto declaration in Spain?｜The Modelo 720 is the standard declaration form individuals submit to Spanish tax authorities to disclose assets held abroad exceeding €50,000. This year, the Spanish government has extended this requirement to cover crypto assets specifically, introducing the .Modelo 721
Could you please explain what the crypto declaration in Spain actually is? I've heard about the Modelo 720 being a standard form for disclosing foreign assets exceeding 50,000 euros, but I'm curious about how it's related to cryptocurrencies. This year, I've heard rumors that the Spanish government has broadened this requirement to include crypto assets. Is that true? If so, what is the specific form or document known as, and how does it work? Could you elaborate on the process and its significance for crypto holders in Spain?
