How to Report Staking Rewards in Spain: Your Complete Tax Guide

Understanding Staking Rewards Taxation in Spain

As cryptocurrency staking gains popularity in Spain, understanding how to report staking rewards to the Spanish Tax Agency (Agencia Tributaria) is crucial. Unlike trading profits, staking rewards are classified as investment income under Spanish tax law. This means they’re subject to Personal Income Tax (IRPF) as “rendimientos del capital mobiliario” (movable capital income). You must declare rewards in the tax year they’re received, regardless of whether you sell or hold the assets. Failure to report accurately can trigger audits, penalties of 50-150% of unpaid tax, plus interest.

Step-by-Step Guide to Reporting Staking Rewards

1. Calculate Your Rewards in Euros: Convert all staking rewards to EUR using the market value at the moment of receipt. Use exchange rates from reputable sources like the Bank of Spain.
2. Gather Documentation: Collect exchange statements, wallet histories, and reward logs. Spanish law requires retaining records for 4 years.
3. Complete Form 100 (Declaración de la Renta): Report rewards in Box 13 under “Rendimientos del capital mobiliario”. Specify the amount under “Otros rendimientos de capital mobiliario”.
4. Apply Deductions: Subtract any associated costs (e.g., transaction fees). Net taxable amount = Total rewards – allowable expenses.
5. Calculate Tax Owed: Tax rates range from 19% to 26% based on your autonomous community and total income bracket. Madrid/Catalonia have regional surcharges.
6. File by Deadline: Submit Form 100 electronically between April-June following the tax year via the Agencia Tributaria portal.

Common Reporting Mistakes to Avoid

• Delaying Declaration: Rewards are taxable upon receipt, not when sold.
• Using Incorrect Exchange Rates: Always use historical EUR rates from the exact reward date.
• Overlooking Small Rewards: All rewards must be reported, even under €1,000.
• Mixing Staking with Trading Income: Staking belongs in Box 13; trading profits go in Box 176 (capital gains).
• Forgetting Autonomous Community Rules: Andalucía, Valencia, and others have unique tax brackets.

Frequently Asked Questions (FAQs)

Are staking rewards taxed differently than mining in Spain?

Yes. Mining is considered economic activity (subject to VAT and business tax), while staking is investment income taxed under IRPF at 19-26%.

Do I report rewards from foreign platforms?

Absolutely. Spanish residents must declare worldwide income. Use Form 720 for foreign holdings over €50,000, but rewards themselves go on Form 100.

How are staking rewards taxed if I hold long-term?

Tax applies upon receipt. When you later sell, you’ll pay capital gains tax on price appreciation since receipt, using the original EUR value as cost basis.

Can I deduct validator/node costs?

Yes. Hardware, electricity, and fees directly tied to staking are deductible. Maintain invoices and calculate proportional costs accurately.

What if I stake via a Spanish exchange like Bit2Me?

Spanish platforms issue Form 19 (Certificado de retenciones) for rewards over €1,000. Still declare the gross amount on Form 100 and claim any withheld tax.

Is there a tax-free threshold for staking income?

No. Unlike savings income (€1,000 exemption), staking rewards have no minimum threshold. All amounts are fully taxable.

Final Considerations

Spanish tax authorities increasingly use blockchain analytics to track crypto income. For complex cases (e.g., DeFi staking across multiple chains), consult a gestoría specializing in crypto taxes. Keep detailed records of every reward transaction, including dates, amounts, and EUR conversions. Proper reporting avoids penalties while maximizing eligible deductions in Spain’s evolving crypto tax landscape.