Taxable Base	Tax Rate	Example: You Pay on €10,000
Up to €6,000	19%	€6,000 × 19% = €1,140
€6,000 to €50,000	21%	€4,000 × 21% = €840
€50,000 to €200,000	23%	-
€200,000 to €300,000	27%	-
Over €300,000	30%	-
TOTAL on €10,000:		€1,980 (effective rate 19.8%)

* Progressive rates: you only pay the highest rate on the amount that exceeds each bracket.

🔔 Important 2025 change: The top rate increased from 28% to 30% starting January 1, 2025.

⚠️ Important: Regional Tax Variations

The rates shown above are the state-level rates applied throughout Spain. Regional variations primarily affect the General Base (employment income), not the Savings Base.

✅ Savings Base - UNIFORM across Spain

The rates of 19%, 21%, 23%, 27%, and 30% for stocks, ETFs, dividends, and interest are identical in all Autonomous Communities (except Basque Country and Navarra, which have their own foral systems).

Regional Variations (apply to General Base, NOT investments):

- Madrid: 30% deduction on regional bracket (General Base only)
- Catalunya: Higher rates - up to 48% in upper brackets (General Base only)
- Basque Country and Navarra: Own foral tax regimes - different rates for EVERYTHING
- Other regions: May have specific deductions for family, disability, housing, etc.

⚠️ Important note: Some regions offer regional deductions that may apply indirectly to savings income (e.g., deductions for startup investments, green bonds). Check your region.

💡 Check the specific rates for your Autonomous Community on the Tax Agency website or with your tax advisor.

FIFO Method - Acquisition Cost Calculation

The AEAT requires the FIFO method (First In, First Out): the first shares you bought are the first you sell.

Practical Example:

15/01/2024: Buy 50 AAPL at €150 Total cost: €7,500

15/03/2024: Buy 50 AAPL at €160 Total cost: €8,000

15/06/2024: Sell 70 AAPL at €170 Proceeds: €11,900

FIFO Calculation:

- First 50 shares sold: Cost €150 × 50 = €7,500
- Next 20 shares sold: Cost €160 × 20 = €3,200
- Total cost: €7,500 + €3,200 = €10,700
- Proceeds: €11,900
- Capital gain: €11,900 - €10,700 = €1,200
- Tax (19%): €1,200 × 0.19 = €228

💡 Our tool automatically calculates FIFO for all your trades, even with complex partial buys and sells.

Deductible Expenses

✅ Deductible:

- Buy and sell commissions
- Annual custody fees
- Exchange fees
- Administration fees

❌ Not Deductible:

- Research subscriptions
- Trading software
- Training courses
- General financial advice

Where to Declare: Section F2

Stock and ETF gains and losses are declared in Section F2 of Form 100 (Capital gains from asset transfers).

⚠️ Important note: Box 1804 is specific to cryptocurrency, NOT traditional stocks. Stocks and ETFs are reported in other fields within Section F2 depending on the transaction type.

Information to report:

✓ Acquisition date
✓ Disposal date (sale)
✓ Acquisition value (including fees)
✓ Disposal value (net of fees)
✓ Capital gain or loss

Stock Splits & Corporate Actions

Stock splits, mergers, spin-offs, and ticker changes DO NOT generate tax gains or losses when they occur. However, they adjust your acquisition cost for future sales.

1. Stock Splits

When a company splits its stock (e.g., 2:1, 3:1), the number of shares changes but the total value of your investment remains the same.

Example: 2:1 Split

Before split: 100 shares × €150 = €15,000

After 2:1 split: 200 shares × €75 = €15,000

Acquisition cost: €75 per share (adjusted)

✓ Acquisition date: Original purchase date is maintained

✓ No taxes: Nothing to declare in the year of the split

2. Spin-offs & Mergers

Our tool automatically handles over 30 historical spin-offs and 50 mergers.

Example: Pfizer (PFE) → Viatris (VTRS) - 2020

- Pfizer spun off and created Viatris
- 12.4% of PFE value was assigned to VTRS
- PFE acquisition cost reduced by 12.4%
- New VTRS position created with that 12.4%

Example: Pandora (P) → Sirius XM (SIRI) - 2019

- Pandora was acquired by Sirius XM
- 1 share of P = 1.44 shares of SIRI
- Acquisition cost transfers to SIRI adjusted by ratio

💡 The tool makes these adjustments automatically. Just upload your statements and the system detects and applies the correct corporate events.

3. Ticker Changes & Delistings

Ticker change: FB → META, GOOGL class A/C - No tax impact, just identification change.

Delisting: If a stock is delisted, it's considered a sale at €0 → total deductible loss.

📈 Options, Futures & Derivatives

Options, futures, and CFDs are taxed under the Savings Base (19%-30%), same as stocks. Declared in Section F2 of Form 100 (Capital gains and losses).

Options (Calls/Puts)

Scenario 1: Option expires worthless → Premium paid = deductible loss

Scenario 2: Option exercised → Premium adds to cost (call) or reduces proceeds (put)

Scenario 3: Sell option → Difference between premium paid/received = gain/loss

⚠️ CFDs & Futures: High Leverage

CFDs and futures use high leverage (10x-100x), amplifying gains and losses. Tax rates 19%-30%, but amounts can be much larger.

💡 Our tool supports IBKR statements with futures and options.

💰 Foreign Dividends - Double Taxation and Withholding

How Dividends Are Taxed

Foreign dividends are taxed under the Savings Base (same rates as stocks: 19%-30%).

⚠️ Problem: Double Taxation

Foreign dividends face double withholding:

Withholding at source: The foreign country withholds taxes (typically 15-30%)
Withholding in Spain: Spain also taxes it (19-30%)

✅ Solution: Article 80 IRPF - Double Tax Credit

Spain allows you to deduct foreign withholding from your Spanish tax, up to certain limits.

📐 Credit formula:

Credit = MIN(Foreign withholding paid, Spanish tax on that dividend)

The credit is the lesser of the two values: what you paid abroad or what you would owe in Spain on that specific income.

⚠️ Example of credit limitation:

- Gross dividend: €100 (USA)
- US withholding: €15 (15%)
- Your Spanish marginal rate: 19%
- Spanish tax on €100: €19
- Deductible credit: MIN(€15, €19) = €15 ✅ Full deduction

But if your marginal rate were 10%: Credit = MIN(€15, €10) = €10. The remaining €5 CANNOT be deducted in IRPF. You must claim it from the foreign country.

📚 Source: AEAT - Foreign Dividends

Deadline: You have up to 4 years from the end of the tax year to claim excessive withholding.

Withholding by Country (Bilateral Treaties)

Country	Standard Withholding	Treaty (max.)	Deductible in Spain
🇺🇸 United States	30%	15%	Yes (up to limit)
🇬🇧 United Kingdom	0%	15%	N/A (no withholding)
🇩🇪 Germany	26.375%	15%	Yes (claim excess)
🇨🇭 Switzerland	35%	15%	Yes (claim excess)
🇫🇷 France	30%	15%	Yes (up to limit)

* Rates verified for 2025. Rates can vary depending on share type and holding period.

* France: The 30% rate includes income tax (12.8%) + social contributions (17.2%). The treaty reduces only the income tax to 15%, but social contributions may still apply.

* Germany: The 26.375% rate includes the solidarity surcharge (Solidaritätszuschlag) of 5.5%.

📚 Sources: PWC Germany, PWC France, AEAT Germany, AEAT France

Example: Apple Dividend (AAPL)

Gross dividend declared: €100.00

US withholding (15%): -€15.00

Net dividend received: €85.00

Spanish tax (19% on €100): €19.00

Credit for US withholding: -€15.00

Payable in Spain: €4.00

Effective total: You pay 19% (15% US + 4% Spain) instead of 34% without a treaty.

💵 Interest on Cash (Remunerated Accounts) - Taxation

Interest on uninvested cash held with foreign brokers is taxed as Investment Income under the Savings Base (19%-30%).

Declaration: Box 0031

Interest from remunerated accounts at foreign brokers is declared in Box 0031 (Investment income - Interest).

✅ Taxable

- Interest on uninvested cash
- Savings pockets interest (Revolut)
- Remunerated account returns
- Securities lending interest

📌 Example

Revolut: €50 interest for the year

Tax (19%): €9.50

No withholding at source = you pay 100% in Spain

⚠️ No Withholding at Source

Most foreign brokers (Revolut, Trading212, Freedom24, Lightyear, Trade Republic) DO NOT withhold taxes on interest. You must declare 100% and pay the tax in Spain.

🔄 Securities Lending

Some brokers (Trading212, IBKR) pay you interest for lending your shares to other investors.

- This interest is generally taxed as Investment Income
- Usually declared in Box 0031 along with other interest
- Includes: "Lending interest" in Trading212, "Short Interest" in IBKR

⚠️ Classification not fully clarified: AEAT has not issued specific official guidance for securities lending interest. The classification may vary depending on frequency and nature of the activity:

- Occasional: Box 0031 (interest)
- Frequent/habitual: Could be considered economic activity
- Consult a tax advisor if your lending income is significant.

Brokers with interest on cash: Revolut, Trading212, Trade Republic, Freedom24, Lightyear, IBKR, XTB, DEGIRO

💡 Our tool automatically detects interest in your statements and includes it in the tax report.

🏦 P2P Lending (Crowdlending) - Taxation

P2P lending interest is taxed as Investment Income under the Savings Base (19%-30%), same as dividends.

Declaration: Box 0027

Interest is declared in Box 0027 (Investment income from foreign sources).

✅ Taxable

- Interest received from loans
- Investment returns
- Platform bonuses (if declared)

❌ Not Taxable

- Principal repayment
- Original investment returned

⚠️ Withholding Tax

Most foreign P2P platforms DO NOT withhold taxes. You must declare 100% of interest and pay tax in Spain.

Supported platforms: Esketit, Peerberry, Crowdpear, GoParity, Inrento, Robocash, Fintown, Raize

💡 Our tool processes statements from these platforms and automatically calculates taxable interest.

₿ Cryptocurrency - Ultimate 2025 Guide

⚠️ IMPORTANT: No Minimum Exemption

Even €1 in gains must be declared. There is no minimum exemption for crypto in Spain.

⚠️ Crypto-to-Crypto = Taxable Event

Swapping BTC → ETH is a sale + purchase. It creates taxes even if you did not cash out in euros.

Crypto Activity Types and Their Taxation

1. Trading / Selling Crypto

Taxation: Savings Base (19% - 30%)

Declaration: Box 1804 (Section F2)

Calculation method: FIFO

Same as stocks. Every sale or swap generates a gain/loss.

2. Staking / Rewards

Taxation: Investment Income (19% - 30%)

Declaration: Box 0031 or 0033 (Section B)

Tax value: EUR value at time of receipt

⚠️ Classification not official: AEAT has no specific guidance for staking. Different sources cite boxes 0031 (regular interest), 0033 (occasional), or 0072 (other income). Classification may vary by platform and frequency. Essential to consult a tax advisor.

3. Mining

Taxation: Economic Activities (19% - 47%)

Declaration: Box 0178 (Section D1)

Advantage: Deduct expenses (electricity, hardware)

⚠️ Classification depends on scale and frequency:

- Habitual and for-profit activity: Requires self-employed registration (IAE code 832.9)...
- Occasional or small-scale mining (hobby): May be taxed as capital gain...

Consult a tax advisor based on your activity level.

4. Airdrops (Free Distributions)

Taxation: Capital Gain (General IRPF Base)

Rates: General scale (19% - 47%)

Declaration: Box 0304 (Form 100)

Valuation: Market price in EUR when received

⚠️ CRITICAL WARNING: Tax treatment NOT officially confirmed

Airdrop tax classification has NOT been fully clarified by AEAT. The DGT (Directorate General of Taxes) has not issued specific binding rulings on crypto airdrops. This classification is a common interpretation but not officially confirmed. Strongly recommend consulting a tax professional.

Forms to Report Crypto

✅ Form 100 (IRPF)

Required for all sales, swaps, interest, staking, mining, and airdrops.

⚠️ Form 721 (Crypto Abroad)

Required if your crypto held on foreign exchanges exceeds €50,000 on December 31.

📄 Tax Forms - Complete Guide

Form 100 - Annual IRPF

Income Tax Return

REQUIRED

Declare here:

✅ Stock/ETF/crypto gains and losses
✅ Dividends and interest
✅ Staking and airdrops
✅ Economic activities (mining)

Where to file:

Renta WEB (AEAT)

April - June 2027

Form 720 - Assets Abroad

Foreign accounts, securities, real estate

CONDITIONAL

Threshold: €50,000

Required if any category exceeds €50,000 on December 31:

- Foreign bank accounts
- Securities/stocks/ETFs held with foreign brokers
- Real estate outside Spain

🇪🇺 2022 Penalty Reform (Important)

The EU Court of Justice (CJEU) ruled in January 2022 that the previous Form 720 penalties were excessive and violated European law. Spain fully reformed the penalty regime.

- €20 per omitted or incorrect data point
- Minimum: €300 | Maximum: €20,000
- Late but voluntary filing: 50% reduction
- Minimum per asset category: €1,500

Old penalties ABOLISHED: The 150% fines on undeclared value no longer apply.

📅 Deadline

January 1 - March 31 2027

⚠️ No extensions

Filing:

Online AEAT

Form 721 - Crypto Abroad

New (2023)

CONDITIONAL

Threshold: €50,000

Required if your crypto held on foreign exchanges exceeds €50,000 on December 31.

Required information:

- Exchange (Binance, Coinbase, etc)
- Each cryptocurrency separately
- Balance on December 31
- EUR value (closing price)

📅 Absolute Deadline

January 1 - March 31 2027

⚠️ No extensions

Filing:

Online AEAT

💡 Our Tool Tells You Which Forms You Need

We automatically calculate if you exceed thresholds and generate the relevant reports with all information ready to file.

📅 Tax Calendar 2026-2027

Keep this calendar handy so you don't miss important tax deadlines. Late filing has significant penalties.

January - March 2027: Forms 720 & 721

- Deadline: March 31 (NO extension)

Form 720: Penalty from €300 (€20 per incorrect data, max €20,000)

Form 721: €200 for not filing, €150 for incorrect data

April - June 2027: Form 100 (IRPF)

- Period: April 2 - June 30 (typical dates, verify AEAT announcement)

Direct debit: before June 25

Important Reminders

- Wash sales: 2 months before/after sale

- Loss carryforward: 4 years from loss year

⚠️ Wash Sales (Valores Homogéneos) - Article 33.5 IRPF

What Are Wash Sales?

It is the Spanish version of US "wash sale rules." If you sell a security at a loss and repurchase the same security (or a substantially identical one) within a specific time window, that loss cannot be applied until the final sale.

Time Windows (Art. 33.5 IRPF)

📊 Securities traded on official markets (stocks, ETFs on exchanges):

→ 2 months before + 2 months after the sale (4 months total)

📄 Non-traded securities (private shares, unlisted stocks):

→ 1 year before + 1 year after the sale (2 years total)

⚠️ Note: Most retail investors deal with traded securities (stocks/ETFs), so the 4-month window applies. The 2-year window applies to private company shares or non-listed securities.

How It Works (Practical Example)

❌ Loss NOT Deductible

1. Sell at a loss: Sell 100 AAPL on 10/06 with a €2,000 loss

2. Repurchase: Buy 50 AAPL on 05/07 (within 2 months)

3. Result: You CANNOT deduct €2,000 in 2024

✅ Loss Deductible

1. Sell at a loss: Sell 100 AAPL on 10/06 with a €2,000 loss

2. No repurchase in the next 2 months

3. Result: You CAN deduct €2,000 in 2024

💡 Important: If you repurchase, the loss is deferred until you sell definitively.

How to Adjust Manually (5-Step Guide)

1. Identify all sales with losses of stocks/ETFs.
2. Check repurchases of the same security 2 months before/after.
3. If there's a repurchase, do NOT deduct the loss this year.
4. Carry that loss forward to future years (apply when you finally sell).
5. Adjust the acquisition cost of the repurchase (add the deferred loss).
6. IMPORTANT: Consult your tax advisor before filing. A professional can help adjust deferred losses correctly.

📊 Are You a Professional Trader? Tax Classification

✅ Good News for Most

99% of individual investors are NOT professional traders, even if trading actively. You're taxed as an investor (Savings Base 19%-30%).

Trading with own capital is NOT economic activity per binding consultations (V2568-20, V0800-11, V2012-21).

⚠️ You're Only a Professional Trader If:

- You trade with third-party capital (clients)
- You offer trading services to others
- You have an investment management company
- You charge fees for trading services

→ In that case, taxation: Economic Activity (up to 47% + social security contributions).

For All Other Investors:

Daily trading, hundreds of operations, full-time dedication → Still Savings Base if trading with your own money.

❓ Frequently Asked Questions (FAQ)

Can I use this report directly on the AEAT website?

No. This report is a support tool to prepare your filing. You must enter the data manually on the AEAT Renta Web portal or provide the report to your tax advisor.

What calculation method is used?

FIFO (First In, First Out) - First in, first out.

This is the method officially required by the Tax Agency (AEAT) to calculate acquisition cost for securities sales.

Does it work with all brokers?

Yes, as long as you upload compatible statement files. Supported brokers:

IBKR, DEGIRO, Trading212, Revolut, eToro, XTB, Lightyear, TradeRepublic, Freedom24, Firstrade, Coinbase, Binance, Kraken, Crypto.com, Robinhood Crypto, and more.

What are "wash sales" (valores homogéneos)?

If you sell a security at a loss and repurchase the same security within 2 months before/after, that loss cannot be deducted until the final sale.

Can I offset losses against gains?

Yes, within the Savings Base:

100% of losses against other capital gains
Up to 25% against dividends/interest
Excess can be carried forward for 4 years

The report shows the net calculation in the summary sheet.

How does loss offsetting work?

You can offset capital losses (stocks, ETFs, crypto) against capital gains and also against dividends, within limits:

Step 1: 100% Offset

Stock losses → 100% against stock gains

Example: €10,000 losses, €8,000 gains → Result €2,000 losses carried forward

Step 2: Cross Offset Max 25%

Remaining losses → Max 25% against dividends/interest

Example: €4,000 losses pending, €10,000 dividends → You can use €2,500 (25% of €10k)

Step 3: 4-Year Carryforward

Remaining losses → Applicable for the next 4 years (same process each year)

Multi-Year Example:

2024: Loss -€10,000 → Carrying -€10,000

2025: Gains €3,000, Dividends €8,000

- Offset €3,000 against gains (100%)

- Offset €2,000 against dividends (25% of €8k)

→ Carrying -€5,000

2026-2028: Continue carrying until exhausted

💡 Important: You must keep a manual record of carried losses year by year. Our tool calculates the current year, but you must track the remainder for future years.

Do I need to declare small €10 crypto gains?

YES. There is NO minimum exemption for cryptocurrencies.

Even €1 in gains must be declared. This differs from countries with de minimis thresholds.

Is swapping Bitcoin for Ethereum a taxable event?

YES. Crypto-to-crypto swaps ARE taxable events.

When you swap BTC → ETH, for tax purposes it's as if:

You sold BTC at market value in EUR
You bought ETH with those EUR

If BTC increased since you bought it, you generate a taxable capital gain.

How is crypto mining taxed?

⚠️ ATTENTION: Mining is taxed DIFFERENTLY

Income type: Economic Activity income (NOT investment)
Rates: General IRPF scale (up to 47%), NOT savings rates (19-30%)
Declaration: Box 0178 (Section D1)
Advantage: You can deduct expenses (electricity, hardware, internet, space)

Consult a tax advisor to optimize deductions.

How are cryptocurrency airdrops taxed?

Airdrops are considered capital gains without prior transmission under Article 33.1 IRPF.

Valuation: Market price in EUR at the time of receipt
Taxation: General IRPF scale (19%-47%) based on your total income
Declaration: Box 0304 of Form 100
Acquisition cost: The declared value when received is used to calculate gains/losses on future sales

Example: If you receive 500 ARB tokens valued at €0.80 each, you declare €400 in capital gains. When you sell those tokens, your acquisition cost will be €400.

When do I need to file Form 721?

Only if your foreign crypto holdings exceed €50,000 on December 31.

Important Warnings:

- Valuation: Closing price on Dec 31
- Deadline: January 1 - March 31 (no extensions)
- Penalties (2022 reform): €200 for not filing, €150 for incorrect data
- Separate declaration: each crypto on each platform

Note: Penalties were reformed in 2022 after CJEU ruling. Previous €10,000 minimum no longer applies.

Do I need to file Form 720 if I own foreign stocks?

Only if the value of your foreign securities exceeds €50,000 on December 31.

If you exceed the threshold, it's mandatory to file between January and March of the following year. Our system will alert you if you need to file and generate a summary automatically.

Is the double tax credit applied automatically?

Not automatically. The report shows the foreign withholding taxes paid by country, which are the basis for the credit under Article 80 of Law 35/2006 IRPF.

The exact credit depends on:

Bilateral double-tax treaties with each country
Your specific tax situation
Limits based on total Spanish tax

Consult your tax advisor for the correct application.

Remember: You have up to 4 years from the end of the tax year to reclaim excessive withholding.

Is it safe to upload my statements?

Yes. Files are processed securely and deleted after reports are generated. We do not store your statements permanently.

See our privacy policy for details.

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💡 Final Advice

Review reports with a qualified tax advisor
Verify your personal situation has no specific exceptions
Stay informed about annual regulatory changes

A good advisor can save you money and trouble. It's worth the investment!

📚 Fuentes, Referencias Legales y Recursos

Legislación Española:

- Ley 35/2006 de IRPF - Impuesto sobre la Renta de las Personas Físicas
- Real Decreto 439/2007 - Reglamento del IRPF
- Artículo 33.5 IRPF - Valores homogéneos (wash sales)
- Artículo 80 IRPF - Crédito por doble imposición internacional

Modelos Tributarios (AEAT):

- Modelo 100 - Declaración anual de IRPF
- Modelo 720 - Declaración de bienes en el extranjero
- Modelo 721 - Declaración de monedas virtuales

Agencia Tributaria Española (AEAT):

Guías Fiscales Profesionales (Firmas Internacionales):

Criptomonedas - Guías Especializadas:

Plazos y Fechas (Tax Deadlines):

Tratados de Doble Imposición:

⚠️ Aviso Legal: Esta página proporciona información general sobre tributación en España. Las leyes fiscales cambian frecuentemente. Toda la información ha sido verificada con fuentes oficiales y profesionales a fecha de enero 2025, pero no constituye asesoramiento fiscal personalizado. Consulta siempre con un asesor fiscal cualificado para tu situación específica.