December 4, 2020

This is the new regulation on cryptocurrencies that the Government has approved



The new bill on Prevention and Fight Against Tax Fraud was approved by the Council of Ministers on October 13 and contains different initiatives to reduce tax fraud practices, among them, control over cryptocurrencies.

It has been incorporated into Law 7/2012 the obligation to report on holding and operating with virtual currencies, both located in Spain and abroad -if it affects Spanish taxpayers- in model 720 of declarations of assets and rights abroad. The Government “will require information on the balances and holders of the coins in custody. In addition, it establishes the obligation to provide information on the operations of acquisition, transmission, exchange, transfer, collections


Source link