66,000 Spanish cryptocurrency traders received tax notices

The Spanish Tax Authority has sent out warnings to 66,000 cryptocurrency users to remind themtax liabilities.

According to the publication Europa Press, Agencia Estatalde Administración Tributaria (AEAT) - Spain's Tax Service, has launched a campaign to send tax notifications to cryptocurrency users on April 1 and will continue to send letters until June 30, despite the coronavirus pandemic.

This year, the Tax Service sent outnotifications to 66,000 cryptocurrency users. At the same time, in 2019, the agency sent only 14,700 similar notifications. The tax inspectorate also harasses citizens who hide income from real estate investments and received abroad.

Cryptocurrency Exchange Sales DirectorBit2me Javier Pastor noted that in this way, the government is looking for additional ways to generate revenue to cover the huge costs of the coronavirus pandemic.

The pastor said the government of Spain is notdelayed filing tax returns or paying taxes due to a pandemic. These measures will not greatly affect Spanish cryptocurrency exchanges, although he believes that stricter KYC rules and transaction tracking will also be implemented soon by the government.

“The situation has not affected companies much,working honestly. I think that the Tax Service wants to warn first-time users in the first place. They are unlikely to hope to receive a lot of tax revenue from the cryptocurrency sector, because it is not yet regulated in our country. ”

In recent years, national tax authoritiesBecome increasingly interested in cryptocurrencies. For example, in 2018, Spain obliged citizens to declare cryptocurrency assets, and at the same time demanded information about local buyers of cryptocurrencies from local companies. Last month, it was reported that Australian cryptocurrency traders will receive “letters of happiness” from the tax, and Ukraine has introduced rules for declaring cryptocurrencies.

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