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Be careful with the cryptocurrency box in the Income Tax Return: the fine you face if you do not declare them

-Users who have purchased and sold cryptocurrencies must fill out the virtual currencies box.

-Who has to make the declaration? How to deduct rent? The 2022 Income campaign starts and this is all the news.

-They impersonate the Tax Agency before the start of Income Tax 2022: these false notifications can steal your data.


This Tuesday, April 11, the Income and Assets campaign corresponding to the financial year 2022 begins. Starting today and until June 30, taxpayers who are required to submit the annual Income Tax Declaration of Individuals (IRPF) may do so through the Internet at the headquarters of the Tax Agency. Meanwhile, people who wish to carry out this procedure by telephone will be able to do so from May 5, always with an appointment, which can be requested from May 3.

It is time to carry out the procedures with the Treasury, and this year, the ‘Equity gains and losses derived from transfers of other assets’ and ‘type of item’ boxes, which are dedicated to cryptocurrencies, return.

This new box only represents an administrative change.

Cryptocurrencies have their place in the income tax return; is it mandatory to declare them?

Who should fill out these boxes?

As we mentioned in 20Bits last year, all taxpayers who have carried out cryptocurrency purchase and sale operations must fill them out, knowing that they will pay taxes on the results obtained from these operations.

It is important to remember that the simple fact of purchasing a cryptocurrency does not imply that this movement must be declared in income or any other tax at the current date. The obligation to declare in this specific case is when there is a change in assets, which is when cryptocurrencies are exchanged (which are considered swaps).

What happens if cryptocurrencies are not declared?

In the legal system, no figure directly regulates virtual currencies; rather, they are governed by the normal treatment of capital gains and losses.

Only those who have sold any of these currencies will have to do so, regardless of whether profits or losses have been obtained in the process. If you do not do so, according to the Annual Tax and Customs Control Plan for 2021, the penalty for the tax debt can reach up to 150%. For example, if a person has earned 3,000 euros in cryptocurrencies and does not declare them, the penalty could reach 900 euros, depending on his or her circumstances.

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