Companies related to cryptocurrencies will pay taxes in Spain
The country's tax collection department completed the investigation that began in January to establish which companies related to digital assets must pay taxes
In Spain, companies related to the crypto universe must report their profits to the Treasury Department, where they will determine whether they should pay taxes on capital income. The measure is the result of an investigation into this matter that began the Department of Tax Collection at the beginning of 2018.
The resolution applies directly to companies with revenues from cryptography, blockchain and everything related to cryptoactive. According to the Spanish newspaper El País, the Spanish treasury initiated the investigation with more than 60 institutions, with an estimated 40 more that accepted payments with cryptocurrencies, 16 large banks and other intermediary companies such as ATM operators, technology providers of payment and cryptographic exchanges.
The updated information culminates with an amount of 15 thousand companies that must declare taxes before the treasury for their earnings in digital currency. The rate ranges between 19% and 23% depending on the size of the capital gains.
The companies that must pay taxes point out that the process is complicated. They insist that it is already difficult to identify taxable transactions and separate them from those that are not. They presume that it will be difficult to establish which transactions in cryptocurrencies are taxable.
In the case of citizens, the Department of Tax Collection seeks to establish the responsibilities in the declaration, making them provide accurate and truthful data.
M.Pino
Source: Bitcoin.es
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