Spanish tax authorities demand Bitcoin transaction information from a local business

On the 8th of this month, the Spanish Tax Agency (La Agencia Tributaria Española) requested information related to digital currency transactions from a local legal firm that reportedly accepted Bitcoin payments, such as how the company handled digital currency payments.

The law firm, called Abanlex, is based in Madrid and the Spanish tax authorities have asked it to provide its bitcoin-related accounts.

Here is a rough translation of the document requesting information:

“[We ask] whether you accept Bitcoin as a form of payment for the services or products you provide. If so, we ask for information on the amount of Bitcoin payments you have accepted to date and any information and accounting documentation related to Bitcoin transactions.”

“We also require information about your exchange of bitcoins for euros or vice versa. The information we require includes the exchange platform you used, the time of the transaction and especially information about your bitcoin wallet (if you have one) or if you automatically convert bitcoins into euros when you receive them.”

The company is required to respond to these questions within 10 working days. Failure to do so may result in further investigation and possible sanctions by the Spanish Tax Authority.

Pablo Fernández Burgueño, a partner at the law firm, responded that Abanlex has not received any payments in Bitcoin or other digital currencies.

The Spanish tax agency also declined to comment on the matter, but a spokesman said the agency's goal is to learn more about Bitcoin to determine whether it can be used for illegal purposes.

No surprise

Spanish travel agency Destinia – which integrated bitcoin payments as early as 2014 – said it had not received any such requests for information.

The spokesperson added:

“Information requests are part of the normal procedures of the Spanish tax authorities, who send information requests to companies for a variety of different reasons. This is understandable within the regulatory framework of the tax authorities and should not be surprising.”

The Spanish General Tax Directorate (DGT) announced this year that virtual currencies such as Bitcoin will be exempted from value-added tax.

It is estimated that the European Court of Justice will announce on Thursday whether VAT will be levied on Bitcoin transactions within Europe.

Original article: http://www.coindesk.com/spanish-tax-authorities-issue-bitcoin-related-probe-for-information/
By Yessi Bello Perez
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information