Spain’s finance ministry targets crypto, NFTs with new tax reform
The Spanish Ministry of Finance aims to enhance its authority to seize crypto and non-fungible tokens (NFTs) as part of a new tax reform . The Ministry of Finance of Spain is gearing up to push a new tax reform that would grant it new power to seize cryptocurrencies and digital collectibles in case of failure to pay taxes, according to the Spanish daily newspaper El Economista. The report says the ministry has proposed reform s to the General Tax Law, specifically Article 162, that would empower the local tax agency authority to seize crypto when executing a user debt. Additionally, amendments to the General Collection Regulations are suggested to enable the embargo of cryptocurrencies. El Economista notes that the ministry already has information on taxpayers’ crypto holdings, adding that individuals and companies starting this year are obligated to declare their crypto held abroad. You might also like: Ex-Spain FA boss Rubiales launches NFTs amid sexual assault ac...