Small change

THE days of sorting through near-useless one and two cent coins among your change could soon be over as the European Commission comes ever closer to scrapping them.

Commissioner for Economy, Paolo Gentiloni, has said that possible changes include eliminating them altogether and introducing rounding-up rules across the EU. The EC carried out a public survey which showed that 70% of respondents were in favour of the abolition of the coins and the introduction of uniform rounding-up rules.

declarations for that year’s tax period included crypto profit.

These made a total of €759 million.

Not every taxpayer is aware of this requirement. According to a study carried out by the Spanish Association of Financial Users (Asufin), 4.4 million people invest in cryptocurrency in Spain. However, over 40% of them believe they do not need to declare these earnings. The gains are calculated deducting the purchase value from the sale value and are taxed at the following tax rates:

Less than €6,000 - 19% income tax

Between €6,000 and