The bill on the exemption of certain income from cryptocurrencies has passed the Chamber of Deputies

We bring you up-to-date information on the pending bill on income taxes.

On 9 December, the Budget Guarantee Committee discussed a bill that could exempt certain income from crypto-assets from income tax. The main points of this amendment are that the legislators intend to introduce an exemption for income from the sale of crypto-assets if:

• the income received does not exceed CZK 100 000 for the whole calendar year, or
• the holding period of the cryptoasset is more than 3 years and the value of such income received does not exceed 40mil. CZK.

This amendment to the Income Tax Act to change the rules for taxation of income from cryptoassets has been approved by the Chamber of Deputies and is heading to the Senate for approval.

We will continue to monitor the proposal and keep you informed of further developments in this legislative process.

Author: Sabina Horáková