Czech President Petr Pavel signed a bill exempting crypto users from paying taxes on crypto assets held for three years or more. Transactions up to CZK 100,000 per year will also be exempt from reporting to tax authorities.
Czech President Petr Pavel signed a bill on Thursday exempting crypto users from paying taxes on crypto assets held for three years.Czech President Petr Pavel signed a bill on Thursday exempting crypto users from paying taxes on long term gains, a spokesperson from the country's Ministry of Finance told CoinDesk on Thursday.
"The principle is if cryptoassets are held for more than three years, their sale will not be taxed, or transactions up to CZK 100,000 per year will not be obliged to report in the tax declaration, similar to securities," the spokesperson said. The Czech Republic's Digitalization of the Financial Markets Act is now at the final stage of the legislation process and will take a week or two to be officially published. The country is a member of the European Union .Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.
CRYPTOCURRENCY TAXES CZECH REPUBLIC LONG-TERM GAINS DIGITAL ASSETS FINANCIAL REGULATION
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