Spanish wealth tax on crypto holdings

Spanish wealth tax looks at the ownership of crypto-assets, not at the transactions carried out with them: what is taxed is the estate the taxpayer owns on 31 December, even if nothing was sold during the year. Residents must value their crypto-assets at market price in euros on that date and add them to the rest of their assets. From there, the usual questions arise: which exempt minimum applies, how each region’s rebate operates, how a self-custodied wallet is declared and how ownership is evidenced.

The analyses in this section deal with those questions and with the relationship between wealth tax and the ITSGF, the Spanish state levy on large fortunes that neutralises the regional rebates for the largest estates. They also examine the position of non-residents holding crypto-assets before Spanish wealth taxation.