Published on August 19th, 2015 | by bitcoin0
Spanish Authorities Clarify How Tax Applies to Bitcoin Losses
The Spanish Tax authorities have clarified how the country’s existing tax laws should be applied to losses incurred by the collapse of a bitcoin exchange, the result of a scam or a situation of insolvency.
Spain’s Dirección General de Tributos (DGT) received a question from a bitcoin enthusiast who claimed to have lost a large part of their savings after investing in bitcoin.
According to the question, the person deposited their bitcoin in a third party loan service in 2013.
These, however, were unable to help because the claimant was Spanish and fell under Spanish jurisdiction.
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This is not the first time the Spanish authorities have spoken out about bitcoin.