The Spanish Finance Ministry will check 15,000 taxpayers who conducted cryptocurrency transactions last year.
The Spanish tax authorities, with the assistance of the Finance Ministry, will conduct an audit of the fiscal coverage of the new technologies, like the Blockchain, and in particular the cryptocurrency, to prevent tax evasion crimes as part of an annual scheduled inspection.
The National Fraud Investigation Office (ONIF), which is already investigating the activities of dozens of companies, banks and intermediaries in Spain, chose a group of 15,000 taxpayers for a more thorough examination.
The tax authorities will check whether the tax on profits from cryptocurrency activities has arrived in the budget, as well as check residents for assistance to money laundering:
“The use of cryptocurrencies, such as bitcoin, as payment means, is one of the most demanding challenges today. In order to face this threat, the use by the tax agency's research units of the new information collection and analysis technologies in all types of networks will be enhanced."
In April, the Spanish tax also sent requests to financial companies to provide information on the amounts and participants of transactions with cryptocurrency. Earlier this fall, the Spanish government approved a preliminary draft of the bill, under which investors will have to report their cryptocurrency earnings to the tax authorities.
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