Spain's Sumar Party Proposes Crypto Tax Hike Up to 47% in New Revenue Push

Source: ETHNews Original Title: Spain’s Sumar Party Proposes Crypto Tax Hike Up to 47% in New Revenue Push Original Link: Spain’s Sumar party has introduced a sweeping package of tax amendments targeting the cryptocurrency sector, outlining measures that could dramatically reshape how digital assets are taxed and regulated in the country. The proposal, currently under parliamentary consideration, seeks to increase government revenue from crypto activities while tightening oversight across multiple parts of the financial system.

A Sharp Increase in Capital Gains Taxation

The most significant change centers on how crypto gains are classified. Under Sumar’s plan, capital gains derived from “non-financial instrument” digital assets would no longer fall under Spain’s savings tax base.

Instead, they would be shifted to the general income tax base, where the highest earners face a top rate of 47 percent. This represents a steep jump from the current maximum rate of 30 percent and would make Spain one of the highest-tax jurisdictions for crypto profits in Europe.

Corporate entities dealing with these assets would also see a substantial shift, with a new 30 percent corporate income tax rate applied to gains generated from crypto transactions. Lawmakers argue that this structure would align crypto taxation more closely with the treatment of other high-risk or speculative assets.

New Risk and Security Requirements for Digital Assets

Beyond tax rates, the proposal introduces a new framework for consumer protection and risk transparency. The Spanish National Securities Market Commission (CNMV) would be tasked with creating a standardized “risk traffic light” system for cryptocurrencies. This visual rating would need to be displayed prominently on investment platforms and exchanges, giving traders an immediate sense of the volatility or security level associated with a given asset.

Another major shift involves asset seizures. Under the plan, all crypto assets, regardless of whether they fall under the EU’s MiCA regulatory regime, would be classified as seizable. This widens the government’s authority in enforcement actions and debt recovery, extending rules that currently apply only to MiCA-regulated assets.

Amending Spain’s Core Tax Laws

To implement these changes, Sumar proposes modifications to three major pieces of legislation: the General Tax Law, the Income Tax Law, and the Inheritance and Gift Tax Law. The goal, supporters say, is to modernize Spain’s tax architecture so it can accommodate the rapid expansion of digital finance. However, critics argue that the proposed structure risks creating what some describe as “complete disorder” by overhauling multiple tax categories at once and imposing burdens that may discourage crypto investment in the country.

A Divisive Proposal for a Rapidly Growing Market

The initiative has sparked mixed reactions. Supporters claim that the measures are overdue, given the scale of crypto adoption in Spain and the need for clear, enforceable rules. Opponents warn that aggressive taxation could drive crypto activity offshore, reduce innovation, and complicate compliance for both individuals and companies.

As Spain continues debating its approach to digital assets, Sumar’s proposal signals a decisive shift: crypto is no longer a fringe category, but a sector significant enough to sit at the center of national tax reform.