The fisc Spanish is very interested in crypto-currencies

The fisc Spanish, known under the name of the STATE (Agencia Estatal de Administración Tributaria) has decided to pay close attention to the holders of crypto-currencies. In fact, sixty companies, exchanges and financial institutions operating in the sector of digital currencies have seen the irs ask for information. Requests that are obviously disturbing to those who are passionate about digital currencies in Spain.

An important observation

The STATE has made very specific requests from exchanges, financial institutions and companies accepting payments in crypto-currencies. The goal is simple : it is to assess the need or not to control this sector harder than the other.

Pixabay The Digital Artst / irs Spanish must determine whether it is urgent or not urgent to regulate crypto-currencies.

It seems that these calls are in reality a report of the ONIF that was on the bank accounts opened abroad by the exchanges. The concerns are acute in Spain, it is to verify the emergency or not to impose a regulation in the area of crypto-assets.

Specific requests

The applications are very precise for the exchanges. In effect, the inland revenue, Spanish wants to know the volume of transactions in digital currencies as well as the amount of commissions in respect of the latter. It is also necessary to justify a Spanish bank account, the purpose is to verify the absence of tax evasion.

Pixabay – Mohammed Hassan / The inland revenue, Spanish must, in particular, check for possible cases of tax fraud.

Concerning businesses, these are the ones that offer payments in crypto-currencies that are referred to. They must justify how they charge for these operations, and provide accounting documents that verify if the revenues are reported.

This is not the first time that the fisc Spanish is interested in crypto-currencies. In fact, in 2015, the STATE had already sent requests for information concerning the use of these virtual currencies. It seems, therefore, that the State wants to increase its vigilance vis-à-vis the crypto-currency. One might especially think that it is to verify the emergency or not to impose a regulatory framework on digital currencies in Spain…

Source : El Economista