- Spanish companies account for crypto as inventory (existencias) if they hold it for sale in their ordinary business, and otherwise as an intangible asset, at cost and without revaluation above cost.
- Companies pay corporate income tax (Impuesto sobre Sociedades) on their profit: 25% in general in 2026, 23% for companies with a turnover below €10 million, and 19% on the first €50,000 and 21% above for a turnover below €1 million.
- A company whose assets are mostly not used in a business, such as a holding company for crypto, may not be able to use the reduced rates.
- Exchanging crypto for euros is exempt from VAT (IVA) under the EU Court ruling Hedqvist. If a customer pays you in crypto, you charge VAT on your goods or services as usual; NFT digital art sold on a platform is taxed at 21%.
- A business that provides crypto services needs a MiCA authorization from the CNMV or another EU regulator.
This page covers companies and self-employed people in Spain that hold, accept or earn crypto. Private individuals are on personal tax, and the filing dates for companies are on filing and deadlines. It is general information, not tax advice.
Crypto in the accounts
The Instituto de Contabilidad y Auditoría de Cuentas (ICAC, the Spanish accounting standard setter) published its view in 2019 (BOICAC 120, consulta 4). It follows the IFRS Interpretations Committee: crypto is not a financial asset, because it gives no right to receive cash. A company records crypto as:
- Inventory (existencias) if it holds the crypto for sale in the ordinary course of its business. It is valued at cost; if the net realizable value falls below cost, the company records an impairment, which it reverses if the value recovers, but never above cost. For identical coins the general method is the weighted average cost.
- Intangible asset in all other cases.
For inventory the ICAC says no revaluation above cost is allowed, so a gain appears in the profit and loss account when the company sells or swaps the crypto. Self-employed people who trade or mine as a business report business income in the general base of their personal income tax.
Corporate income tax
Companies pay corporate income tax on their accounting profit, adjusted by the tax rules. For tax periods starting in 2026 the rates are (Corporate Income Tax Act, Article 29 and transitional provision 44):
| Company (tax periods starting in 2026) | Rate |
|---|---|
| General rate | 25% |
| Turnover in the previous year below €10 million (empresa de reducida dimensión) | 23% |
| Turnover in the previous year below €1 million | 19% on the first €50,000 of taxable profit, 21% on the rest |
| New companies with an economic activity, first profitable year and the next | 15% |
The reduced rates fall further in the coming years: for a turnover below €10 million the rate is 22% in 2027, 21% in 2028 and then 20% (Article 29); for a turnover below €1 million the scale in Article 29 of 17% on the first €50,000 and 20% on the rest applies from 2027. A company counts as an entidad patrimonial if more than half of its assets are securities or are not used in an economic activity. Article 29 excludes such a company from its 15%, 17% and 20% rates. A company that mainly holds crypto as an investment can fall under this rule; ask an adviser which rate applies.
VAT (IVA) on crypto
- Exchanging crypto for money. In the Hedqvist case (C-264/14, 22 October 2015) the Court of Justice of the EU ruled that exchanging traditional currency for bitcoin and back is a VAT-exempt financial service. The DGT applies this ruling: it says that crypto is a currency that serves as a means of payment, so financial services linked to it are exempt under Article 20.Uno.18º of the VAT Act (rulings V1274-20 and V2407-23). In ruling V5017-26 (5 June 2026) it adds that a plain exchange of one crypto for another, or for money, is outside the scope of VAT when the values are equal.
- Being paid in crypto. A restaurant that accepts crypto charges VAT on its services as usual and reports them in its VAT return. The customer’s delivery of crypto is the delivery of money as payment, which is not subject to VAT (V2407-23).
- Mining. The DGT says bitcoin mining, in the conditions it describes, is not subject to VAT, and that a miner therefore cannot deduct the VAT on its costs for that activity (V1274-20).
- Staking. For a business, staking yields from making crypto available are subject to but exempt from VAT; for a private individual they are outside the scope of VAT (V5017-26).
- NFTs. The sale of digital art as an NFT through an online platform or marketplace is an electronically supplied service, taxed at the general rate of 21% when it is supplied in Spain (V0138-25).
If your business provides crypto services
Exchanging, holding or transferring crypto for customers is a crypto-asset service under MiCA. Since 1 July 2026 a business needs an authorization from the Comisión Nacional del Mercado de Valores (CNMV) or from the regulator of another EU country (see regulation). The CNMV also supervises crypto advertising (Securities Markets Act, Article 247).
Spanish providers that hold crypto for customers file the modelo 172 on balances, and providers that exchange or transfer crypto or hold it for customers file the modelo 173 on transactions, every January. The EU directive DAC8 has not yet been transposed into Spanish law (October 2026); see provider reporting. A company that records its crypto individually in its accounts, with name, value, custodian and country, does not have to file the modelo 721 for crypto held abroad.
Sources
- ICAC: BOICAC 120/2019, consulta 4 (accounting for cryptocurrencies) (last checked October 2026)
- BOE: Ley 27/2014 del Impuesto sobre Sociedades, articles 5, 29, 101 and 124 and transitional provision 44 (last checked October 2026)
- BOE: Ley 37/1992 del Impuesto sobre el Valor Añadido, articles 20.Uno.18º and 90 (last checked October 2026)
- Dirección General de Tributos: binding rulings V1274-20, V2407-23, V5017-26 and V0138-25 (VAT) (last checked October 2026)
- CNMV: MiCA, nueva regulación de criptoactivos (last checked October 2026)
- BOE: Ley 6/2023 de los Mercados de Valores, article 247 (advertising of crypto-assets) (last checked October 2026)
- BOE: Orden HFP/887/2023 (modelos 172 and 173) (last checked October 2026)
- Agencia Tributaria: ¿Respecto de qué monedas virtuales no resultará de aplicación esta obligación de información? (modelo 721) (last checked October 2026)
This page is general information, not tax advice. Rules and rates change, so check the official sources above before you act.