Flash loans in DeFi: tax implications in Spain?
The flash loan itself ≠ taxable event. Loan created and destroyed in one block.
What IS taxable = operations within the flash loan:
- Arbitrage (buy on exchange A, sell on B): Capital gain
- Liquidation (claim liquidation bonus): Capital gain
- Debt refinancing: Collateral actions may generate taxable events if assets had unrealized gains
Complexity: Single transaction hash can contain dozens of individual operations.
kointax analyzes complex transactions and decomposes individual taxable events within flash loans.