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Czech Republic: taxes on crypto capital gains go to ZERO
By Davide Grammatica
The Czech Republic is confirmed as one of the countries most favorable to the adoption of crypto: taxes on capital gains from cryptocurrencies held for three years are 0%
Crypto taxes in the EU: the turning point in the Czech Republic
We have already spoken several times about how the Czech Republic has embarked on a regulatory path aimed at favoring the development and adoption of cryptocurrencies in the country.
It is doing so in clear contrast to the EU, and one of the most significant elements is the position on the implementation of Bitcoin as a “strategic” reserve of the state. On the one hand, the ECB has guaranteed the impossibility of such a scenario, while on the other hand, the central bank of the Czech Republic is reportedly working on the project.
The latest initiative, on the other hand, concerns a newly proposed tax law that exempts citizens from paying taxes on capital gains derived from cryptocurrencies held for three years. A symbolic act, and one that could open an alternative path in the “fiscal” approach to Bitcoin and cryptocurrencies.
In Italy, as we well know, the road traveled is in the opposite direction, with one of the highest capital gains tax rates on crypto assets in Europe.
An initiative that promotes adoption
Also in the Czech Republic, the law will allow citizens not to declare transactions with a value less than 100,000 Czech crowns (about 4 thousand euros), and therefore they will not be subject to tax.
The new incentive to hold crypto in the long term follows a series of reforms that are also in favor of the sector. Former president Andrej Babiš had already urged for balanced cryptocurrency regulations and fiscal policies years ago. A few days ago, however, the governor of the country’s central bank, Michl, spoke out in favor of a plan to allocate 5% of reserves in Bitcoin.
