Czech gov’t moves to exempt crypto held for 3+ years from being taxed
The prime minister said Czech residents would not have to report crypto transactions under $4,200 per year or pay taxes for selling digital assets held for more than three years.
Petr Fiala, prime minister of the Czech Republic, has reported that the country is moving to pass legislation allowing residents to bypass taxes on selling their crypto after holding it for more than three years.
In a Dec. 6 X post, Fiala said the measure, backed by Chamber of Deputies member Jiří Havránek, would “guarantee that if you hold cryptocurrencies for more than three years,” any sale would be exempt from capital gains tax. In addition, taxpayers would not be required to report transactions valued at less than 100,000 koruna — roughly $4,200 at the time of publication — per year.
“This means that, for example, buying coffee with Bitcoin […] will no longer be a tax transaction,” said Fiala.
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Author: Turner Wright
