In September, an amendment to a government bill under review by the Chamber of Deputies was introduced into the legislative process without undergoing the standard consultation procedure. This amendment proposes the option to exempt income from the sale of crypto assets, provided similar conditions are met as those required for exempting income from the sale of securities.
If the proposed amendment is adopted and comes into effect, income from the sale of crypto assets would be exempt from tax as of 1 January 2025, provided that:
This exemption would not apply to crypto assets held as business assets.
At the same time, the CZK 40 million exemption limit for income from the sale of shares in a business corporation and income from the sale of securities, where the applicable time test has been successfully completed, would also apply to this type of income. However, although the relevant amendment seeks to remove the asymmetry between the taxation of income from the sale of securities and income from the sale of crypto assets, the proposal does not include, for example, the possibility of applying a special legal regulation for the acquisition price that can be used to calculate the tax base for the sale of securities when the maximum exemption amount is exceeded in the case of income from the sale of crypto assets.
The law has now passed its second reading in the Chamber of Deputies, and it remains to be seen whether it will complete the legislative process and be adopted in its current form.
Finally, we would like to take this opportunity to highlight that, in the future,
the so-called DAC 8 Directive is also to be implemented. This directive aims to expand current reporting obligations to include providers of cryptocurrency-related services. These providers should therefore be required to report information on cryptocurrency transactions to financial administration. These changes are expected to come into effect from 2026.
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