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Market Price: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

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How the DGT's position has evolved

Settled doctrine High confidence 18 rulings · 2014–2025

Current position

Crypto-assets or tokens with economic content must be included in the net wealth for Wealth Tax, even if there are contractual clauses that prevent their free disposal. Their mandatory valuation is carried out at their market price on the date the tax accrues. In other areas, the market price determines the existence of benefits in kind or the allocation of assets to economic activities.

The DGT maintains a constant application of the market price valuation criterion for various assets. The evolution shows a specialization in the application of this concept to new digital assets, such as cryptocurrencies and tokens, reinforcing its mandatory nature regardless of contractual availability restrictions.

Turning points

  1. V0250-18

    Establishes the obligation to declare bitcoins and cryptocurrencies at their market price on the date the tax accrues for Wealth Tax.

Analysis based on 18 of 18 rulings with a stated position. Updated 25 September 2026.

Rulings on this topic

18
V2432-25 11 Dec 2025

Tokens must be declared in Wealth Tax despite sale restrictions

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
tokenssmart contractlock uppatrimonio netoprecio de mercado LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 1LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 3
Affects CompanyExpat · Non-residentIndividual
V2834-21 16 Nov 2021

Utility tokens must be valued at market price for Wealth Tax purposes

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
utility tokenactivo virtualprecio de mercadofondos propioscesión de capitales LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 13LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 14
Affects CompanyExpat · Non-residentIndividual
V0341-19 15 Feb 2019

Employee discounts from nearby companies may be considered ordinary or common

SG de Impuestos sobre la Renta de las Personas Físicas
retribución en especierendimientos del trabajodescuentos ordinariosdescuentos comunesprecio de mercado LIRPF — Ley 35/2006 del IRPF art. 17.1LIRPF — Ley 35/2006 del IRPF art. 42.1
Affects CompanyExpat · Non-residentIndividual
V0590-18 1 Mar 2018

Bitcoin and cryptoassets must be declared in Wealth Tax at euro value

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
criptomonedasmonedas virtualesprecio de mercadodevengomedios de pago LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 24LGT — Ley 58/2003 General Tributaria art. 89.1
Affects CompanyExpat · Non-residentIndividual
V0250-18 1 Feb 2018

Bitcoins and cryptocurrencies must be declared in Wealth Tax at market value

SG de Impuestos Patrimoniales, Tasas y Precios Públicos
bitcoinscriptomonedashecho imponibleprecio de mercadodevengo LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 1LIP — Ley 19/1991 del Impuesto sobre el Patrimonio art. 3
Affects CompanyExpat · Non-residentIndividual

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