Understanding Staking Rewards and Taxation in Spain
Staking rewards are earnings generated by holding and “staking” cryptocurrencies in proof-of-stake (PoS) blockchain networks. In Spain, the Agencia Tributaria (Tax Agency) treats these rewards as taxable income. Whether you stake Ethereum, Cardano, Solana, or other cryptocurrencies, you must declare these earnings in your annual tax return.
Are Staking Rewards Taxable in Spain?
Yes. Spain’s tax authority categorizes staking rewards as:
- Investment income (if staking is passive)
- Business income (if staking is part of professional activity)
Most individual investors fall under the “investment income” category, taxed at a progressive rate of 19%–23% (as of 2023).
How to Calculate Taxes on Staking Rewards
- Convert rewards to euros using the exchange rate on the day of receipt.
- Track acquisition costs (e.g., transaction fees).
- Apply tax rates:
- First €6,000: 19%
- €6,001–€50,000: 21%
- Above €50,000: 23%
Step-by-Step Guide to Reporting Staking Rewards
- Gather records of all staking transactions.
- Complete Form 172 (for crypto assets).
- Include earnings in Box 0526 of your income tax return (Modelo 100).
- Submit by June 30 (online) or July 1–5 (in person).
Common Mistakes to Avoid
- Failing to report small rewards (even under €1,000)
- Using incorrect exchange rates
- Mixing personal and business staking activities
FAQ: Taxes on Staking Rewards in Spain
1. What tax rate applies to staking rewards?
Most individuals pay 19%–23%, depending on total investment income.
2. What if I don’t report staking rewards?
Penalties range from 50%–150% of unpaid tax + interest. Audits can追溯6 years.
3. Can I deduct staking expenses?
Yes. Node operation costs, software fees, and hardware depreciation may qualify.
4. Are DeFi staking rewards treated differently?
No. All staking income follows the same tax rules, regardless of platform.
5. How long should I keep records?
Maintain documentation for 10 years (statute of limitations + 4 years).
Always consult a gestoría or crypto tax specialist for personalized advice.
