The Spanish Parliament proposes to amend cryptocurrency tax laws, with the Bitcoin capital gains tax rate potentially rising to 47%

According to CriptoNoticias, the Sumar party group in the Spanish Parliament has submitted an amendment to the Congress to modify three tax laws to strengthen the taxation of cryptocurrencies.

The proposal suggests including the income from non-financial instrument-type crypto assets in the general tax base for personal income tax, with a maximum tax rate of 47%, compared to the current 30% cap on savings tax base. It also stipulates that such income will be taxed at a rate of 30% under corporate income tax. The proposal further requires the Spanish National Securities Market Commission (CNMV) to create a risk rating system for cryptocurrencies, which must be displayed on investment platforms. Additionally, the amendment includes all crypto assets within the scope of seizable assets, expanding the previous regulations that only applied to assets within the EU MiCA regulatory framework.