Tax Implications of Various Crowdfunding Models: A General Overview from a Spanish Perspective

Crowdfunding is a response to the lack of bank financing (especially to entrepreneurs and start-ups) and the decreasing investment in the venture capital market. Although seeking funds from the public is not new, connecting investors and projects through the Internet is very recent. Save for a few exceptions, there is no specific legislation regarding such funding. This article presents an overview of crowdfunding and considers the tax implications with a focus on the Spanish perspective.