Tuesday, August 16

How to declare cryptocurrencies and NFTs bought and sold in 2021, in Spain By CoinTelegraph

© Reuters. How to declare cryptocurrencies and NFTs bought and sold in 2021, in Spain

In Spain, according to Taxdown, there are still a few months to go before the start of the income campaign, which is usually at the beginning of April, but it is important to remember that this coming December 31, the personal income tax period ends and before the end During the year, it is important to be clear about how operations carried out in 2021 with cryptocurrencies or NFTs can affect the income statement, since more and more investors choose these financial assets.

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“Cryptocurrencies such as, to take the most representative example, are virtual currencies that constitute a means of payment. However, the vast majority of users use them as a form of investment, instead of as a means of digital payment, which has effects on personal income tax ”, they indicate from Taxdown, a firm from which they shared with Cointelegraph in Spanish, information on how to declare cryptocurrencies and NFT in Spain.

More than 4 million Spaniards invest in cryptocurrencies This year 2021, which has been very marked by the trend of cryptocurrencies and NFT, more than 4 million Spaniards (11.2% of the total) have invested or are investing in cryptocurrencies, while of that shows 41.4% think that they will not have to pay any type of tax for what they earn with their crypto assets, and another 28.4% recognize that they do not know whether or not to include it in their income statement, and although there are only a few days left until it ends During the year, there is still time to save on next year’s income tax return if the Spanish taxpayer compensates for the losses and gains from the sales of cryptocurrencies and NFT, as according to what is reported by the digital signature, in 2021 a new rate of 26% has been added for capital gains above 200,000 euros.

Read the full article on Cointelegraph

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