66,000 Spanish cryptovite traders received tax notifications

   The Spanish tax authorities sent out warnings to 66,000 users of cryptovite to remind them of their tax obligations.

According to Europa Press, Agencia Estatal de Administración Tributaria (AEAT) - the Spanish Tax Service - has launched a campaign to send tax notifications to cryptovite users on 1 April and will continue to send letters until 30 June, despite the Coronavirus pandemic.

This year the IRS has sent out notifications to 66,000 cryptovite users. However, in 2019 the agency sent out only 14,700 similar notifications. The Tax Inspectorate also pursues citizens who hide income from real estate investments and received abroad.

Sales Director of the Spanish Exchange Bit2me Cryptovalut Javier Pastor (Javier Pastor) noted that in this way the government is looking for additional ways to generate income to cover the huge costs due to the coronavirus pandemic.

Javier Pastor said that the Spanish government did not postpone filing tax returns or paying taxes because of the pandemic. These measures will not have much impact on Spanish cryptographic exchanges, although he believes that stricter KYC rules and transaction tracking will soon be implemented by the government as well.

"The situation has had little impact on companies that work honestly. I think that the IRS wants to warn the new users first of all. They hardly hope to get much tax revenue from the cryptovoltaic sector, because it is not yet regulated in our country".

In recent years, national tax authorities have become increasingly interested in cryptov currencies. For example, Spain as early as 2018 obliged citizens to declare cryptographic assets, and at the same time demanded from local companies information about buyers of cryptographic materials. Last month it was reported that Australian crypt-currency traders would receive "letters of happiness" from the tax authorities, while Ukraine presented the rules for declaring crypt-currency.