📝 Description
This guide lists the deposit labels available on Waltio for Belgian users following Spanish tax rules. Each label has a specific tax impact on the FIFO calculation and the taxation of your transactions.
👉 AP = Acquisition Price
👉 In Spain, when a passive income deposit impacts the FIFO cost, it is always impacted at market price — that is, an acquisition price equal to the market value at the time of receipt.
⚠️ Warnings
The calculation method applicable in Spain is FIFO (First In, First Out).
In Spain, when passive income is received, it is considered to have been acquired at its market value on the date of receipt.
All deposits must be labelled or matched.
📂 Deposit labels
Label | FIFO impact / Acquisition price | Taxable? | Crypto stock impact | Stock change | Example |
No label | AP: Market price of crypto obtained | ✅ FIFO integration | ❌ Not taxable | ⏫ Increase | ⚠️ All deposits must be labelled or matched |
Masternodes & staking (and farming) | AP: Market price at time of receipt | ✅ FIFO integration | ✅ Savings taxable base (Capital income) | ⏫ Increase | Staking gain of 0.3 ETH valued at €300 on receipt. ▶️ AP: €300. ▶️ Taxable base: €300 |
CFD gain | AP: Market price at time of receipt | ✅ FIFO integration | ✅ Savings taxable base (Transfer income) | ⏫ Increase | CFD gain valued at €400 on receipt. ▶️ AP: €400. ▶️ Taxable base: €400 |
Mining gain | AP: Market price at time of receipt | ✅ FIFO integration | ✅ General taxable base (Income from economic activities) | ⏫ Increase | Mining gain of 1 ETH valued at €1,000 on receipt. ▶️ AP: €1,000. ▶️ Taxable base: €1,000 |
Play2Earn gain | AP: Market price at time of receipt | ✅ FIFO integration | ✅ General taxable base (Income from economic activities) | ⏫ Increase | Play-to-earn gain of 1 EMY valued at €1,000 on receipt. ▶️ AP: €1,000. ▶️ Taxable base: €1,000 |
Liquidity withdrawal | AP: Market price at time of receipt ⚠️ Modifies the initial AP of the crypto deposited in the LP | ✅ FIFO integration | ❌ Not taxable | ⏫ Increase | Buy 1 ETH for €1,000. Deposit 1 ETH in LP. Withdraw 1.5 ETH valued at €2,500 on receipt. ▶️ AP: €2,500 |
ICO token reception | AP: Market price at time of receipt | ✅ FIFO integration | ❌ Not taxable | ⏫ Increase | Reception of 100 EMY valued at €1,000 on receipt. ▶️ AP: €1,000 |
Cashback | AP: Market price at time of receipt | ✅ FIFO integration | ✅ Savings taxable base (Capital income) | ⏫ Increase | Cashback of 0.01 BNB valued at €10 on receipt. ▶️ AP: €10. ▶️ Taxable base: €10 |
Airdrop | AP: Market price at time of receipt | ✅ FIFO integration | ✅ General taxable base (Non-transfer income) | ⏫ Increase | Receipt of 1 EMY airdrop valued at €100. ▶️ AP: €100. ▶️ Taxable base: €100 |
Fork | AP: Market price at time of receipt | ✅ FIFO integration | ✅ General taxable base (Non-transfer income) | ⏫ Increase | Fork receipt valued at €100. ▶️ AP: €100. ▶️ Taxable base: €100 |
Other gains | AP: Market price at time of receipt | ✅ FIFO integration | ✅ Savings taxable base (Capital income) | ⏫ Increase | ⚠️ Should not exist: everything must be labelled |
Salary | AP: Market price at time of receipt | ✅ FIFO integration | ✅ General taxable base (Income from work) | ⏫ Increase | Receipt of 0.5 BTC as salary valued at €5,000. ▶️ AP: €5,000. ▶️ Taxable base: €5,000 |
Swap | AP: Market price of the crypto obtained | ✅ FIFO integration | ❌ Not taxable (the sale is taxable) | ⏫ Increase | Buy 1 BTC for €15,000. Sell 1 BTC for 10 ETH (1 ETH = €2,000). ▶️ AP 10 ETH: €20,000 |
Crypto purchase (in fiat) | AP: Purchase price | ✅ FIFO integration | ❌ Not taxable | ⏫ Increase | Buy 1 BTC for €10,000. ▶️ AP: €10,000 |
Scam | AP: €0 – Not taken into account | ❌ No FIFO impact | ❌ Not taxable | ⏸ No change | Scam valued at €1,000,000. ▶️ AP: €0 |
Transfer between accounts | AP: Initial AP of the transferred crypto | ❌ No FIFO impact | ❌ Not taxable | ⏫ Increase | Buy 1 ETH on Binance for €1,000. Transfer to Metamask (1 ETH = €3,000 at that moment). ▶️ AP: €1,000 |
Unstaking | AP: Initial AP of the crypto put in staking | ❌ No FIFO impact | ❌ Not taxable | ⏸ No change | Buy 1 ETH for €1,000. Put in staking. Unstake (value at that moment: €3,000). ▶️ AP: €1,000 |
Donation (received) | AP: Fiat value of the donation on the date of receipt | ✅ FIFO integration | ❌ Not taxable | ⏫ Increase | Receipt of 1 BTC donation valued at €20,000 on receipt. ▶️ AP: €20,000 |
Loan | AP: Loan amount on the date of receipt | ✅ FIFO integration | ❌ Not taxable | ⏫ Increase | Borrow 0.5 BTC valued at €4,000 on receipt. ▶️ AP: €4,000 |
Collateral repayment | AP: Initial AP of the crypto put as collateral | ❌ No FIFO impact | ❌ Not taxable | ⏸ No change | Buy 10 ETH for €8,000. Deposit as collateral. Retrieve collateral (value at that moment: €15,000). ▶️ AP: €8,000 |
💡 Additional information
If you use the "Transfer between accounts" label, you must add it to the withdrawal and the deposit. Example: you send 1 ETH from your Binance account to your Metamask account. You have a withdrawal on Binance and a deposit on Metamask: both transactions must be labelled "Transfer between accounts".
To label your transactions, go to My transactions.
For more information on Spanish cryptocurrency taxation, see the dedicated article in your Help Center.
To understand the LIFO and FIFO calculation methods, see the article Calculation methods.