Post by SEO on Jan 11, 2024 14:51:57 GMT 8
Cryptocurrency purchase and sale operations can give rise to a capital gain or loss , to the extent that when carried out they generate an alteration in the composition of the taxpayer's assets. On the one hand, if the operation was successful for our interests, the profit obtained will have to be incorporated into the capital gains of the savings tax base in our income tax return. Of course, the tax to pay will depend on the final figure that we have obtained. As a novelty, from 2022, a cryptocurrency owner will pay between 19% and 26% in personal income tax in the next declaration.
Previously, the maximum limit was set at 23%. An owner of a cryptocurrency will pay between 19% and 26% in personal income tax in the next declaration Thus, the Tax Agency establishes that 19% is applied Phone Number Data to the first 6,000 euros of profits. From this figure up to 50,000 euros of profit, the rate rises to 21%. After that, if we are between 50,000 and 200,000 euros in profits, the percentage will reach 23%. And finally, if the positive result exceeds 200,000 euros, we will release the last aforementioned tranche of 26%. “The tax to be paid will depend on the final figure we have obtained.” (Photo: Pexels) On the other hand, if the transaction was detrimental to our interests, the individual declarant may offset such losses with capital gains for the year or returns on capital up to a limit of 25% of its value.
However, in the scenario where immediate compensation is not possible, Law 35/2006, of November 28, on Personal Income Tax , enables such action to be carried out in the following four years. Finally, in the undesirable event that our cryptocurrencies are stolen or the trading platform goes bankrupt, the amount thereof will be considered a capital loss , as developed in the binding consultation V1979-15 . There, the General Subdirectorate of Personal Income Taxes determined that, by virtue of art. 45 and 48 of the LIRPF, as the capital loss generated after the theft of the cryptocurrency has not been revealed during the transfer of assets, such amount will form part of the general income , and must be integrated into the general tax base of the tax.
Previously, the maximum limit was set at 23%. An owner of a cryptocurrency will pay between 19% and 26% in personal income tax in the next declaration Thus, the Tax Agency establishes that 19% is applied Phone Number Data to the first 6,000 euros of profits. From this figure up to 50,000 euros of profit, the rate rises to 21%. After that, if we are between 50,000 and 200,000 euros in profits, the percentage will reach 23%. And finally, if the positive result exceeds 200,000 euros, we will release the last aforementioned tranche of 26%. “The tax to be paid will depend on the final figure we have obtained.” (Photo: Pexels) On the other hand, if the transaction was detrimental to our interests, the individual declarant may offset such losses with capital gains for the year or returns on capital up to a limit of 25% of its value.
However, in the scenario where immediate compensation is not possible, Law 35/2006, of November 28, on Personal Income Tax , enables such action to be carried out in the following four years. Finally, in the undesirable event that our cryptocurrencies are stolen or the trading platform goes bankrupt, the amount thereof will be considered a capital loss , as developed in the binding consultation V1979-15 . There, the General Subdirectorate of Personal Income Taxes determined that, by virtue of art. 45 and 48 of the LIRPF, as the capital loss generated after the theft of the cryptocurrency has not been revealed during the transfer of assets, such amount will form part of the general income , and must be integrated into the general tax base of the tax.