The Spanish Parliament has proposed to amend the Crypto Assets tax law, and the Bitcoin capital gains tax rate may rise to 47%.

According to ChainCatcher news and reported by CriptoNoticias, the Sumar party group in the Spanish Parliament has submitted an amendment to the House of Representatives to modify three tax laws to strengthen taxation on Crypto Assets. The proposal suggests including the income from non-financial instrument Crypto Assets in the general tax base for personal income tax, with a maximum tax rate of 47%, compared to the current savings tax base limit of 30%. It also stipulates that such income will be taxed at a rate of 30% under corporate income tax. The proposal further requires the Spanish National Securities Market Commission (CNMV) to create a risk rating system for Crypto Assets and to mandate its display on investment platforms. Additionally, the amendment includes all Crypto Assets within the scope of seizable assets, expanding the previous regulations that only applied to assets within the EU MiCA regulatory framework.