On 25 March 2024, the Czech Republic government announced the release of the Draft Bill amending the Act on International Cooperation in Tax Administration and Other Related Acts to implement Council Directive (EU) 2023/2226 of 17 October 2023. This legislation mandates the automatic exchange of information on cryptocurrency asset transactions including advance tax rulings for high-net-worth individuals or DAC8 by digital service providers.
The legislation also proposes increasing penalty fees for non-compliance with reporting and notification obligations under DAC6 from CZK 500,000 (around EUR 19,800) to CZK 1,500,000 (about EUR 59,400).
EU Member States are required to enforce this Directive by 31 December 2025, and apply its provisions starting 1 January 2026. However, some provisions will only take effect on 1 January 2028.
