Crypto Tax in Spain 2026: Rates, FIFO and Modelo 721 Explained for Beginners

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If you live in Spain and sold, swapped or spent Bitcoin this year, you are probably searching for crypto tax in Spain 2026. Here is the short version. Spain treats most crypto gains as savings income, taxes them at progressive rates from 19% to 30%, and has no holding-period exemption. On top of that, if you keep crypto on platforms based outside Spain, a separate information form, Modelo 721, may apply. This guide explains both in plain English for beginners.

This is general information, not tax advice. Spanish rules are detailed, the Basque Country and Navarra have their own tax systems, and your situation may differ.

Crypto tax in Spain 2026: the basics

When you dispose of crypto in Spain, the profit is generally treated as a capital gain (ganancia patrimonial). It goes into your savings tax base (base imponible del ahorro), together with other savings income such as interest and dividends. In other words, the tax bands below apply to all of your savings income combined, not to crypto alone.

A few key points:

• No long-term discount. A coin held for ten years is taxed at the same rates as one held for ten days. This is very different from Germany, where private sales after one year can be tax-free.
• Same rates across most of Spain. The savings base scale is uniform across the regions of the common territory, so Madrid, Valencia and Seville use the same bands. Residents of the Basque Country and Navarra follow their own rules.
• Business-level activity is different. Income from an economic activity, such as large-scale mining or professional trading, can be taxed in the general base at higher progressive rates.

Spain's savings tax rates for crypto gains

These are the savings base rates that apply in 2026, as reported by Spanish tax guides and law firms:

Savings base (all savings income combined)	Tax rate
Up to €6,000	19%
€6,000 to €50,000	21%
€50,000 to €200,000	23%
€200,000 to €300,000	27%
Above €300,000	30%

The rates are progressive, so each rate applies only to the slice inside its band. Someone with €10,000 of total savings income pays 19% on the first €6,000 and 21% on the remaining €4,000, not 21% on everything.

What counts as a taxable event in Spain?

Spain takes a broad view of what triggers tax. Common taxable events include:

• Selling crypto for euros or another fiat currency.
• Swapping one crypto for another, for example BTC to ETH. In a swap, the value of the crypto you give up is the market value of the crypto you receive, and that value becomes the purchase cost of the new coin.
• Paying for goods or services with crypto, because you are disposing of the coin.

Simply buying crypto with euros and holding it does not create a gain. Staking rewards and airdrops are a separate category: Spanish guides note they are generally treated as income from movable capital (rendimiento del capital mobiliario), which also lands in the savings base.

How the gain is calculated: FIFO

Your gain is the sale value minus the purchase value, each adjusted for the fees that belong to the transaction. If you bought the same coin at different times, Spain's tax authority applies the first-in, first-out (FIFO) method: the coins you sell are treated as the first ones you bought. Keep exports of every trade, deposit and withdrawal, because FIFO across several exchanges is hard to reconstruct later.

How to report crypto: Modelo 100

Gains, staking income and similar crypto income go on your annual personal income tax return, Modelo 100 (IRPF). It covers the previous calendar year and is filed in the spring campaign, which closes on 30 June. So gains from 2026 are declared in the 2027 campaign.

Spain is also part of the EU's new crypto reporting system. Under DAC8, crypto platforms collect user data and report it to tax authorities, which makes "nobody will know" an even worse strategy than before. We explained how that works in DAC8 Explained: What EU Crypto Tax Reporting Means for You From 2026.

Modelo 721: crypto held outside Spain

Modelo 721 is an informational return. It does not create a tax bill by itself, but missing it when required can lead to penalties. According to the Agencia Tributaria, it applies to Spanish tax residents who hold virtual currencies with custodians that safeguard private keys on behalf of others and that are not resident in Spain.

• Threshold: the combined value of such holdings exceeds €50,000 on 31 December.
• Deadline: filed between 1 January and 31 March of the following year. Balances at 31 December 2026 are reported between January and March 2027.
• Later years: after a first filing, a new return is generally only needed if the value rises by more than €20,000, or if you close the holdings.
• Not covered: self-custody wallets where you hold the keys, such as a hardware wallet. These are still subject to income tax and wealth tax rules.

The "outside Spain" part matters. Many large EU exchanges serve Spanish users from other countries, so balances there can count towards the €50,000. If you are thinking about moving coins into self-custody, read How to Move Bitcoin From an Exchange to a Hardware Wallet first, and remember that self-custody changes the reporting form, not your tax on gains.

Wealth tax: only for larger portfolios

Crypto also counts towards your net wealth for Spain's wealth tax (Modelo 714). For most beginners this is not relevant: the exemption depends on your region and is generally around €700,000, and a return can also be required if your gross assets exceed €2 million. If you are anywhere near those numbers, talk to a Spanish tax adviser.

A simple checklist for Spanish residents

1. Download full transaction histories from every exchange and wallet you used this year.
2. List every sale, swap and crypto payment, and calculate gains with FIFO.
3. Record staking rewards and airdrops separately, with their euro value when received.
4. Check your balance on non-Spanish platforms on 31 December for the €50,000 Modelo 721 threshold.
5. File Modelo 721 (if needed) by 31 March and Modelo 100 by 30 June.

Comparing countries? See how other EU states handle it in Crypto Tax in Italy 2026 and Crypto Tax in Austria 2026.

FAQ

Is crypto tax-free in Spain if I hold it for more than a year?

No. Spain has no holding-period exemption. Gains are taxed in the savings base at 19% to 30% whether you held the coin for a day or a decade.

Is swapping Bitcoin for Ethereum taxable in Spain?

Yes. A crypto-to-crypto swap counts as a disposal. The market value of the coin you receive is used as the sale value of the coin you gave up.

Do I need Modelo 721 if my crypto is on a hardware wallet?

No. Modelo 721 covers crypto held by custodians outside Spain. Self-custody wallets are not included, but gains on those coins are still taxable when you sell or swap them.

Important disclaimer

This article is for general information only and is not financial, legal or tax advice. Tax rules, rates and deadlines can change, and regional regimes (Basque Country, Navarra) differ. Check the official Agencia Tributaria guidance or speak with a qualified Spanish tax adviser before making decisions.

Bottom line

Crypto tax in Spain in 2026 is simple to describe and tedious to do: every sale, swap or crypto payment can create a gain taxed at 19% to 30%, with no long-term exemption. Track your trades with FIFO, declare them on Modelo 100 by 30 June, and check whether your balances on foreign platforms pass €50,000 on 31 December, which triggers Modelo 721.

Sources

• Agencia Tributaria: Who must file Modelo 721 (Spanish)
• Vicox Legal: Crypto Tax in Spain 2026 – Rates, Modelo 721 and DAC8
• Guía Fiscal: Criptomonedas IRPF 2026 (Spanish)
• Jean Galea: Crypto Tax in Spain 2026 – Rates and Forms

Advice Me publishes general information only. Always verify current rules with official sources before acting.