NFT Taxation in Spain 2025: How Non-Fungible Tokens Are Taxed by the AEAT

NFTs (non-fungible tokens) have revolutionized the world of digital art, collectibles, and digital ownership. However, their tax treatment in Spain has important nuances that every investor, collector, or creator should know.

Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, NFTs are considered unique movable property for tax purposes, which leads to significant differences in how they are taxed by the AEAT.

In this comprehensive guide we’ll analyze how NFTs are taxed in Spain in 2025, what your tax obligations are depending on your activity, and how to avoid costly mistakes.

NFTs (Non-Fungible Tokens) are unique, non-repeatable digital assets that represent ownership of a digital or physical good via blockchain technology.

Distinctive characteristics of NFTs

Unlike fungible cryptocurrencies (such as Bitcoin or USDT, where each unit is identical and interchangeable), NFTs have specific characteristics:

• ✅ Uniqueness: Each NFT is unique and cannot be replicated
• ✅ Indivisibility: They cannot be split (you can’t hold 0.5 NFTs)
• ✅ Verifiability: Their authenticity and ownership are verified on-chain
• ✅ Transferability: They can be bought, sold, or transferred

Tax treatment: NFTs as movable property

The AEAT treats NFTs as movable property for tax purposes, similar to:

• Physical works of art
• Jewelry and antiques
• Collectibles
• Vehicles

This classification means their taxation follows the same rules as these traditional assets, with the particularities of digital assets.

If you buy NFTs as an investment, for collecting, or to resell later, your activity is considered personal wealth management, not an economic activity.

Personal income tax (IRPF): Capital gains

When you sell an NFT you previously purchased, you realize a capital gain or loss that is included in the savings tax base of the IRPF.

Calculating the gain or loss

Formula:

Gain/Loss = Disposal value − Acquisition value − Expenses

Where:

• Disposal value: Sale price of the NFT (in euros)
• Acquisition value: Price you paid when buying it (including the price in ETH or other crypto converted to euros at the exchange rate on the day)
• Deductible expenses: Gas fees, marketplace commissions, minting costs if you bore them as the buyer

Applicable tax rates (2025)

Capital gains on NFTs are taxed at these brackets:

Practical example: Buying and selling an NFT

Case: María buys a digital art NFT on OpenSea:

Purchase (March 15, 2024):

• Price: 2 ETH
• ETH rate: €2,500/ETH → €5,000
• Gas fees: 0.05 ETH → €125
• Total acquisition cost: €5,125

Sale (October 20, 2024):

• Price: 3 ETH
• ETH rate: €2,800/ETH → €8,400
• OpenSea fee (2.5%): €210
• Gas fees: 0.04 ETH → €112
• Net disposal value: €8,078

Tax result:

Capital gain = €8,078 − €5,125 = €2,953
Tax (19%): €561.07

María will report this gain in her 2024 income tax return (Form 100, box 389).

Reporting in Form 100

Gains from NFT sales are reported in:

• Box 389: Other capital gains to be included in the savings base
• Identification annex: NFT description, purchase/sale dates, amounts

Recommended documentation to keep:

• Screenshot of the on-chain transaction (Etherscan, Polygonscan, etc.)
• Marketplace buy/sell confirmations
• Price history (CoinMarketCap, CoinGecko)
• Invoices for gas fees and commissions

Offsetting capital losses

If you sell NFTs at a loss, these can be offset against:

• ✅ Capital gains in the same year (other NFTs, crypto, shares)
• ✅ Investment income (up to 25%)
• ✅ Loss carryforwards from prior years (up to 4 years)

This helps optimize your tax burden if your NFT portfolio has mixed results (gains and losses).

If you create and sell your own NFTs (digital art, music, photography, generative collections), your activity is treated as income from an economic activity, not a capital gain.

Taxation as a professional economic activity

NFT creators must register as self-employed (autónomos) with the Tax Agency and Social Security.

Obligations for professional creators

1. Register in the Business Census (Form 036/037)

   • IAE heading: 8493 – “Services related to information technology and computing”
   • Alternative: 759.9 – “Other professional services n.e.c.”

2. Register in the Self-Employed Regime (RETA)

   • Monthly contribution based on chosen contribution base
   • Flat rate available for new self-employed (€80/month for the first 12 months in 2025)

3. Quarterly VAT return (Form 303)

   • Standard rate: 21% on the sale price
   • Option for simplified scheme depending on turnover

4. IRPF advance payments (Form 130)

   • 20% on quarterly profits
   • Quarterly filing (April, July, October, January)

Income in the IRPF general base

Income from selling NFTs you created is taxed in the general base of the IRPF, with higher progressive rates:

Deductible expenses for creators

As a business activity, you can deduct all directly related expenses:

• ✅ Hardware and software: Computers, graphic tablets, Adobe licenses, Blender, Procreate, etc.
• ✅ Minting gas fees: Costs to publish the NFT on-chain
• ✅ Marketplace commissions: Listing fees on OpenSea, Rarible, Foundation, etc.
• ✅ Promotion costs: Social ads, collaborations, marketing campaigns
• ✅ Professional services: Designers, developers, tax advisors
• ✅ Training: Courses on digital art, blockchain, NFT marketing
• ✅ Home office utilities: Proportion of electricity, internet, rent if working from home
• ✅ Financing costs: Interest on loans to fund the activity

Practical example: Professional creator

Case: Albert is a digital artist creating NFT collections:

2024 income:

• Sale of 50 NFTs: €45,000
• Secondary royalties (2.5% resale): €3,000
• Total income: €48,000

Deductible expenses:

• Equipment (iPad Pro, software): €3,500
• Gas fees and marketplace commissions: €4,200
• Advertising and marketing: €2,800
• Tax and accounting advisory: €1,200
• Utilities (30% of home): €1,800
• Training and courses: €800
• Total expenses: €14,300

Tax result:

Net income = €48,000 − €14,300 = €33,700

IRPF (avg. rate ~30%): €10,110
Social Security contributions: €4,800
Total tax burden: €14,910

Additionally, Albert must manage quarterly VAT (output and input VAT).

VAT (Value Added Tax) treatment for NFT transactions depends on who the seller is and where the parties are resident.

Sales by a professional or company (B2C / B2B)

If the seller is a self-employed person or company selling NFTs:

• ✅ Charge 21% VAT on the sale price
• ✅ The buyer pays price + VAT
• ✅ The seller files quarterly returns (Form 303)

Example:

• NFT price: €1,000
• VAT (21%): €210
• Total paid by buyer: €1,210

Sales between private individuals (C2C)

If the seller is a private individual (non-professional), the transaction is subject to the Transfer Tax (ITP), not VAT.

• ✅ The buyer must pay the ITP
• ✅ Rate: varies by autonomous community (generally 4%–10%)
• ✅ Filing deadline: 30 business days from purchase

Example in Madrid (6% ITP):

• NFT price: €5,000
• ITP (6%): €300
• The buyer must file the self-assessment ITP form with the regional authority

Cross-border transactions

When buyer and seller reside in different countries:

When a private individual sells an NFT to another private individual, the transaction is subject to ITP, a regionally administered tax.

Buyer’s obligations

The buyer must:

1. File the ITP self-assessment with their autonomous community of residence
2. Deadline: 30 business days from the purchase date
3. Documentation: Sale contract, proof of payment, blockchain screenshot

Regional ITP rates for movable property (2025)

Practical example: ITP on private sale

Case: Llúcia (private individual) buys a CryptoPunk NFT from Javier (private individual):

• Agreed price: €80,000
• Region: Madrid (6% ITP)
• ITP due: €4,800

Llúcia must file the ITP self-assessment in the Community of Madrid within 30 days of purchase and keep all documentation evidencing the transaction.

Regardless of your profile (buyer, investor or creator), you must include your NFT transactions in the annual income tax return.

For buyers/investors (capital gains)

Section: Savings tax base

Main boxes:

• Box 389: Other capital gains to include in the savings base
• Box 390: Capital losses to include in the savings base

Information to include:

• NFT description (name, collection, identifier)
• Acquisition date
• Acquisition value (in euros)
• Disposal date
• Disposal value (in euros)
• Related expenses (gas fees, commissions)

For professional creators (business income)

Section: General tax base – Income from economic activities

Main boxes:

• Boxes 086 to 094: Income from economic activities under direct assessment
• Total annual income
• Deductible expenses by category
• Net income

Recommended supporting documents:

• Income and expense ledger
• Invoices issued and received
• Proof of advance payments (Form 130)
• VAT returns (Form 303)

NFTs held (not sold)

If you hold NFTs without selling them, there’s no IRPF tax that year. However:

• ✅ They may count for the Wealth Tax (Form 714) if your total net worth exceeds your region’s exemption threshold
• ✅ They must be valued at their acquisition price
• ✅ If held on foreign exchanges or wallets and exceed €50,000, they may be reportable on Form 721 (foreign crypto assets return)

Many NFTs include automatic royalties that generate recurring income each time the NFT is resold on the secondary market.

Taxation of royalties for the creator

Royalties received by the original creator are treated as:

• ✅ Business income if you are a professional creator (self-employed)
• ✅ Investment income if you are an occasional creator (non-professional)

Professional creator (self-employed)

• Taxed in the general base of the IRPF
• Subject to 21% VAT
• 15% withholding required if the marketplace is Spanish
• Quarterly filings (Forms 130 and 303)

Occasional creator (individual)

• Taxed in the general base of the IRPF as investment income
• Not subject to VAT
• Progressive rates depending on total income
• Annual filing in Form 100

Royalties example

Case: Carlos created a collection of 1,000 NFTs with a 5% royalty on each resale:

Year 2024:

• Secondary market resale volume: €200,000
• Royalties received (5%): €10,000

Taxation (professional self-employed creator):

• Output VAT (21%): €2,100
• IRPF on net income: ~€3,000 (depending on marginal rate)
• Total tax burden: ~€5,100

Carlos must include this €10,000 in his business income and manage the corresponding VAT.

Although both are blockchain-based digital assets, their tax treatment differs significantly:

These differences make NFT tax management more complex and require an individualized treatment of each asset.

NFT taxation is recent and complex, leading to frequent mistakes that can result in penalties.

Mistake 1: Not reporting NFT sales

Issue: Assuming blockchain transactions are “anonymous” or “undetectable.”

Reality: The AEAT can trace transactions via:

• Public blockchain analytics
• Information from exchanges and marketplaces
• Cross-checks with bank accounts and credit cards

Solution: Report all your transactions, regardless of amount.

Mistake 2: Confusing capital gains with gross proceeds

Issue: Reporting the sale price as the gain without subtracting the acquisition cost.

Incorrect example:

• NFT sale: €10,000
• Wrongly reported gain: €10,000

Correct example:

• NFT sale: €10,000
• Acquisition cost: €6,000
• Actual gain: €4,000

Solution: Correctly calculate the capital gain or loss.

Mistake 3: Not converting to euros on the date of each transaction

Issue: Using today’s exchange rate instead of the historical one.

Correct approach: Each transaction (buy/sell) must be valued in euros at the exchange rate on the transaction date.

Solution: Keep records of:

• Exact date of each transaction
• ETH/EUR or crypto/EUR rate for that day
• Source (CoinMarketCap, CoinGecko, Kraken, etc.)

Mistake 4: Ignoring ITP on private purchases

Issue: Failing to file the ITP self-assessment after buying an NFT from another individual.

Consequence: Penalty for late filing or non-filing.

Solution: File the ITP within 30 days of purchase in your region.

Mistake 5: Creators not registering as self-employed

Issue: Selling NFTs on a recurring basis without registering with Tax Authorities and Social Security.

Consequence:

• Penalties for not issuing VAT invoices
• Retroactive settlement of self-employment contributions
• Penalties for not filing quarterly returns

Solution: If you regularly create and sell NFTs, register as self-employed from the first sale.

Preparing an accurate tax return for your NFT transactions requires organization, documentation, and technical knowledge.

Required documentation

Collect and keep:

• ✅ Transaction hashes: Unique on-chain identifiers (Etherscan, Polygonscan)
• ✅ Screenshots: Marketplace buy/sell confirmations
• ✅ Price history: ETH or other crypto quotes on operation dates
• ✅ Invoices and receipts: Gas fees, commissions, minting costs
• ✅ Contracts: Purchase agreements if any
• ✅ NFT metadata: Name, collection, smart contract

Useful tracking tools

1. Blockchain explorers:

   • Etherscan (Ethereum)
   • Polygonscan (Polygon)
   • BscScan (Binance Smart Chain)
   • Solscan (Solana)

2. Portfolio trackers:

   • Nansen
   • DeBank
   • Zerion
   • Rainbow

3. Specialized tax software:

   • Koinly
   • CryptoTax
   • Accointing
   • TokenTax

Recommended process

Step 1: Export all your transactions from each marketplace (OpenSea, Rarible, Foundation, etc.)

Step 2: Identify each operation:

• Purchases (acquisitions)
• Sales (disposals)
• Transfers
• Minting (creation)

Step 3: Value each operation in euros at the rate on the day

Step 4: Calculate gains/losses for each sale

Step 5: Group by type of income:

• Capital gains (investors)
• Business income (creators)

Step 6: Complete Form 100 with the processed information

If your total net worth exceeds your region’s exemption threshold, you must include your NFTs in the Wealth Tax return (Form 714).

When does it apply?

Generally when your net worth exceeds:

• €700,000 (state-level exemption)
• Each autonomous community may set its own threshold or reliefs

Valuing NFTs for Wealth Tax

NFTs must be valued at:

1. Acquisition price if you still hold them
2. Market value if there is an active, verifiable market
3. Valuation/appraisal for unique, high-value NFTs

Example

Case: Robert has total net worth of €950,000:

• Main residence: €400,000 (exempt up to €300,000)
• Bank accounts: €150,000
• Shares: €200,000
• NFTs: €100,000
• Cryptocurrencies: €100,000

Wealth Tax base:

€950,000 − €300,000 (home exemption) − €700,000 (general exemption) = €0

In this case, Robert would not pay Wealth Tax, but he would still need to file Form 714 for information purposes if required by his region.

If net worth were higher, NFTs would count toward the taxable base.

If you hold NFTs in foreign wallets or international marketplaces and their value exceeds €50,000 on December 31, you may be required to file Form 721 (foreign crypto assets report).

Are NFTs subject to Form 721?

Yes, NFTs are considered crypto assets for Form 721 if:

• ✅ Held in personal wallets (MetaMask, Ledger, etc.)
• ✅ Held on international marketplaces without a Spanish entity
• ✅ Their combined value exceeds €50,000 on December 31

Information to report

For each NFT or group of NFTs:

• Asset description
• Wallet address where it is held
• Blockchain used
• Value in euros on December 31
• Marketplace or protocol (if applicable)

Filing deadline

March of the year following the tax year.

Some NFT projects distribute tokens for free (airdrops) or allow free minting (free mints).

Taxation of NFTs received for free

At receipt:

• No immediate taxation if there is no consideration
• The tax acquisition value is €0

At sale:

• The capital gain is 100% of the sale price (minus expenses)
• Taxed as a capital gain in the savings base

Example: NFT airdrop

Case: Ana receives a free NFT from a project she participates in.

At receipt:

• Tax acquisition value: €0
• Taxation: none

Later sale (6 months later):

• Sale price: €2,000
• Gas fees: €50
• Capital gain: €1,950
• Tax (19%): €370.50

NFTs received as a gift or donation

For the donor:

• No IRPF taxation (gratuitous transfer)

For the recipient:

• Subject to Inheritance and Gift Tax
• Rate depends on region and relationship
• Valuation: market value at the time of the gift

NFT tax regulation is evolving. Expected trends include:

Specific rules under development

• ✅ EU MiCA (Markets in Crypto-Assets) regulation, which may extend to NFTs
• ✅ Possible creation of specific forms for digital assets
• ✅ Greater clarity on distinctions between investment, collectible and utility NFTs

Increased oversight and enforcement

• ✅ Marketplaces required to report transactions (DAC8 directive)
• ✅ Automatic cross-matching of blockchain and tax information
• ✅ More specific penalties for NFT non-compliance

Future tax opportunities

• Possible VAT reduction for digital art (like traditional art)
• Tax incentives for digital creators
• Clarification of utility NFT treatment (access, memberships)

NFT taxation in Spain has complex particularities requiring specialized attention:

Key takeaways

• ✅ NFTs as movable property: Different taxation than fungible cryptocurrencies
• ✅ Buyers/investors: Capital gains in the savings base (19%–28%)
• ✅ Professional creators: Economic activity in the general base (up to 47%) + VAT
• ✅ ITP between individuals: 4%–10% depending on region
• ✅ Form 721: Mandatory if you exceed €50,000 abroad
• ✅ Documentation: Essential to keep evidence of all transactions

Final recommendations

1. Keep detailed records of all transactions from day one
2. Convert to euros on the date of each transaction
3. Keep evidence of on-chain records, price quotes, and expenses
4. Consult an expert before high-value operations
5. Always file: The blockchain is public and traceable

Do you hold NFTs and need help meeting your tax obligations? At Cleriontax we specialize in the taxation of digital assets, NFTs, and cryptocurrencies.

Our services include:

• ✅ Personalized tax analysis of your NFT portfolio
• ✅ Precise capital gains calculations
• ✅ Advisory for professional creators (self-employment registration, VAT, optimization)
• ✅ Preparation and filing of Forms 100 and 721
• ✅ Management of ITP and other regional taxes
• ✅ Audit of historical transactions
• ✅ Defense in response to AEAT requests

Request your tax consultation →

Our team of crypto tax and data analytics experts will help you meet all your tax obligations safely, professionally, and efficiently.

Disclaimer: This article is for informational and educational purposes only. It does not constitute personalized tax advice. Tax regulations are subject to change and each personal situation is unique. Always consult a qualified tax advisor before making tax or investment decisions.

Last updated: October 2025

Published by: Cleriontax Team – Experts in Cryptocurrency Taxation and Data Analytics