DeFi and taxes in Spain: the problem with Koinly and CoinTracking
Complex DeFi operations and their Spanish tax treatment:
- LP provision: Swap taxable event + capital income from rewards
- Staking/Yield farming: Capital income at reception value
- Lending: Interest as capital income; borrowing is non-taxable
- Bridges: Treated as swaps (taxable permuta)
- NFT trading: Capital gains with FIFO
Koinly and CoinTracking detect these events but don't apply Spanish-specific tax rules. kointax applies AEAT rules automatically to all DeFi operations.