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V2412-22 22 November 2022 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · monedas virtuales

Cryptocurrency gains taxed at time of delivery, regardless of cash receipt

The consultant asks when capital gains from cryptocurrency sales must be declared and whether reporting is required. The DGT responds that gains are recognised upon delivery of the cryptocurrency and that reporting obligations apply to foreign crypto assets.

The question raised

1. Temporal imputation in Personal Income Tax of income obtained from the purchase and sale operations of virtual currencies, taking into account that a period of time elapses between the issuance of the sale order for the virtual currency and the receipt of the money in the current account.

The DGT's ruling

Cryptocurrencies are considered intangible assets and their sale generates capital gains or losses. The change in assets occurs at the moment the taxpayer delivers the virtual currencies, according to the theory of title and mode. Therefore, the income must be attributed to the tax period in which said delivery takes place, regardless of the moment the price is received.

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