Bill would change tax deadlines and crypto asset rules

Automatic summary, not yet reviewed

1. The bill would split prescription deadlines: a four-year period for the Tax Agency to declare someone's tax liability, and a separate one to demand payment from that declared responsible party, following Supreme Court case law.
2. The bill would set when each prescription period starts and which actions interrupt it, by the Administration or the taxpayer. Interruption or gained prescription would only extend to parties sharing the same factual basis for the obligation.
3. On tax collection, the bill would expressly allow seizing crypto assets and assets held at payment and electronic money institutions, and would update the order in which assets can be seized.
4. The bill would transpose EU Directive (UE) 2023/2226 (DAC 8), requiring certain crypto asset service providers to report users' identity, tax residence and transactions, with its own penalty regime and record keeping duties.
5. The term virtual currency would be replaced by crypto asset in reporting duties; the duty to report virtual currency transactions would be repealed from January 1, 2026, though it must still be met for 2025 transactions; and reporting on crypto assets held abroad would be updated.
6. Extremadura would be added to the regions whose taxpayers must file self-assessments under the Inheritance and Gift Tax, since it has set up the taxpayer assistance service.

Words worth knowing

Prescripción

The deadline after which the Tax Agency can no longer claim a debt or assess a tax, and taxpayers can no longer claim refunds.

Responsable tributario

A person who, besides the main debtor, can be held liable for paying a tax debt.

Criptoactivos

Crypto assets, such as cryptocurrencies, recorded using distributed ledger technology.

Diligencia debida

Due diligence: checks banks and providers must run to identify customers and their tax residence.

Autoliquidación

Self-assessment: the taxpayer calculates and files the tax themselves instead of the Agency assessing it.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries