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Crypto Taxation Challenges and Spain’s Deadline
In a move to assert greater control and oversight in the realm of cryptocurrency taxation, Spanish residents with crypto assets on non-Spanish platforms are mandated to declare them by March 31, 2024. The Spanish Tax Administration Agency, Agencia Tributaria, introduced form 721—a dedicated tax declaration form for virtual assets abroad—as part of the evolving regulatory framework. The submission window for form 721 kicks off on January 1, 2024, and spans until the end of March. Individuals and corporate taxpayers are required to declare the amount of funds stored in their foreign crypto accounts as of December ... (full story)