Spanish Parliamentary Group Proposes New Crypto Tax Bill Increasing Taxes on BTC, ETH

The Spanish Sumar Parliamentary Group has proposed three amendments to crypto tax laws, adding more burden on profits from Bitcoin and other cryptocurrencies.

The proposal presented before the Congress of Deputies this month suggests that gains from crypto assets, not considered as financial instruments, should be taxed under Personal Income Tax (IRPF) at the general rate. The general IRPF base is currently capped up to 47%, per Wolters Kluwer data.

According to CriptoNoticias report, at present, crypto assets come under the savings base rates, taxed up to 30%.

Besides, the group said that these gains should be taxed under the Corporate Income Tax at 30%.

As the third amendment, the proposal suggests that the National Securities Market Commission (CNMV) create a visual risk traffic light system for crypto. This will be displayed on investor platforms in Spain, evaluating official registration, supervision, backing and liquidity.

Economist and tax advisor José Antonio Bravo Mateu said that these transposes “clearly go against Bitcoin, Ethereum, and other cryptocurrencies.”

Further, the proposal includes all crypto within the scope of seizable assets, expanding the previous rule that applies only to assets under the EU MiCA framework.

Lawyer Chris Carrascosa points out that this proposal is “unenforceable.”

“If this is approved, it’s going to cause absolute chaos in the entire crypto tax regime in Spain,” she stressed.

Spanish Lawmakers Demand Crypto Traffic Light Risk Warnings

As reported by Cryptonews in July, a Spanish coalition of MPs demanded that the country’s financial top regulator mandate crypto to carry “traffic light” risk warnings.

This system would help users to “clearly and visually” decide on the type of asset they are buying. The Sumar Parliamentary Group wanted to rename cryptos, including Bitcoin and Ethereum.

Economist José Antonio called it “useless attacks against Bitcoin,” stressing that these are “resistant to political attacks.”

“The only thing these measures achieve is that their holders residing in Spain think about fleeing when BTC rises so much that they no longer care what the politicians say,” he wrote on X.

Crypto Tax Uncertainties in Spain

In August, Spanish authorities taxed a crypto trader with €9 million for a transaction that generated no profit. According to the Spanish Tax Agency (AEAT), a non-profit transaction is considered a capital gains event.

The incident exposed crypto law and taxation flaws in the country. Legal experts and EU watchdogs warned that investors are left without fair protection in Spain.

“Spanish tax legislation still lacks clear guidelines on how cryptocurrency holdings or tokenized assets should be taxed,” leading Spanish tax firm Lullius Partners noted at the time. “It remains difficult to determine when and under what conditions cryptocurrency transactions are considered taxable.”

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