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| April 22, 2024

DAC 8 – draft implementation into Czech legislation has been published

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Already in 2023, the EU Council adopted another Directive amending the EU rules on administrative cooperation in the field of taxation. This is the eighth directive in this area and you may therefore know it as the DAC 8. DAC 8 focuses on crypto-asset transactions, among other things. DAC 8 extends the current reporting obligations to providers of crypto-asset-related services. As a result, these providers will now be obliged to report information on cryptocurrency transactions to the Financial Office for clients within the EU. The new reporting obligations should be in place from 2026.

At the end of March 2024, a proposal for the implementation of DAC 8 in Czech legislation was already published, which can be found here:

Our cryptocurrency transactions team will be monitoring the legislative process closely to keep you updated on its status.

If you have any questions on this topic, please do not hesitate to contact our colleagues Petr Němec or Michal Hlaváč.