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V1012-25 17 June 2025 · SG de Tributos Criterion in force
OTRO · monedas virtuales

Information obligation for model 721 depends on virtual currency balances as of 31 December

The consultant asks which balances to use to determine if model 721 reporting is required. The tax authority responds that the obligation is determined solely by the balances as of 31 December.

The question raised

"1.- Which balance must be used to determine the obligation to file or not file Form 721?"

The DGT's ruling

The obligation to file Form 721 is determined by the sum of the values in euros of the virtual currency balances held abroad as of December 31. If this aggregate exceeds 50,000 euros, all virtual currencies must be reported. Valuation variations occurring during the year are irrelevant for establishing this obligation.

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