Tuesday. 27.02.2024

The Spanish Tax Agency (Agencia Tributaria) has announced its strategic objectives for the prevention and fight against tax fraud in 2022. In a press release, the Treasury details the activities on which it will focus its inspections during this year.

The Treasury considers it a priority to promote the sending of warnings to taxpayers who have undeclared sources of income, both inside and outside of Spain, in order to promote their voluntary compliance. 

One of the fields in which the tax authorities will focus their attention this year is that of cryptocurrencies.

As a consequence of the large increase in investment in virtual currencies, and due to the fiscal risks that these operations entail, warnings will continue to be sent to all those taxpayers who have carried out operations with virtual currencies and crypto assets.

The objective of the Treasury is to tax the capital gains derived from this type of operations with cryptocurrencies, carried out on Spanish platforms or on platforms that have permanent establishments in Spain.

According to current Spanish legislation, capital gains are taxed at 19% on Personal Income Tax (IRPF) for the first 6,000 euros, at 21% for the following 44,000 euros up to 50,000 euros, and at 23% from that figure up to 200,000 euros. From this amount they would be taxed at a rate of 26%.

Tourist homes under surveillance

Currently, the Spanish authorities are working on the regulatory development of a new cryptocurrency earnings declaration document, the so-called 'Form 721.' The initial idea was to establish a system of sanctions similar to those of the 'Form 720', which was knocked down by the Court of Justice of the European Union this week.

The 2022 Annual Tax and Customs Control Plan prepared by the Tax Agency also plans to re-monitor the rental of homes for tourist purposes.

The Tax Agency will also focus on a new work technique based on OECD principles under the name 'Behavioural Insights' which consists of the preparation of an extensive annual plan of visits to certain business sectors with the issuance of a number of warning letters addressed to those taxpayers who incur certain default risk parameters.

Checks and inspections will also be made in certain sectors or business models in which high levels of underground economy are appreciated.

Taxpayers who have declared repeatedly negative tax bases to compensate and pending deductions to apply in corporate tax, will also be under the surveillance of the Treasury.

Spanish Tax Agency focuses new anti-fraud plan on cryptocurrencies