Taxpayers with zero cryptocurrency balance are not required to report them

The management of digital assets on foreign platforms entails specific reporting obligations to the Tax Agency (Agencia Tributaria). A recent resolution from the Directorate General of Taxes (DGT) has delimited the scope of this reporting duty, focusing on the taxpayer's wealth situation at the close of the fiscal year.

What the DGT has resolved

The advisory body has determined that the obligation to file the informative declaration on virtual currencies located abroad is subject to two concurrent requirements:

• That the taxpayer holds such cryptocurrencies at some point during the year.
• That the combined value of the balances on December 31 exceeds the threshold of 50,000 euros.

In this sense, the DGT clarifies that if crypto-asset positions are fully liquidated during the fiscal year and the resulting balance on December 31 is zero, the taxpayer is exempt from filing the informative declaration. Likewise, the criteria emphasize that any value fluctuations the assets may have experienced during the course of the year are irrelevant in determining the obligation, as the closing balance is what matters.

What this means for you

For individuals operating with cryptocurrencies on international platforms, this resolution provides legal certainty regarding the exact moment the duty to report arises. If you have carried out buy and sell operations during the year but have liquidated all your positions before the end of the fiscal year, you will not have to file the informative declaration, regardless of the amount of the movements made or the profits obtained.

What you should do

It is necessary to rigorously monitor crypto-asset positions at the close of each fiscal year. If the total value of your virtual currencies abroad is equal to or greater than 50,000 euros on December 31, filing the informative declaration will be mandatory. Since the regulations apply according to the wealth situation at the close, it is advisable to assess the position of your assets on critical dates to determine your reporting obligations to the Administration.