Slovakia: Proposed tax transparency rules for crypto transactions under consultation
The Slovak Ministry of Finance initiated a consultation to adopt the proposed EU Directive on Administrative Cooperation (DAC8) into its national legislation. The directive aims to introduce new tax transparency regulations for service providers facilitating transactions involving crypto-assets. The Ministry of Finance has shared several key points to note, including:
- The general application date for DAC8 is expected to be Jan. 1, 2026. Identification services will have to comply with the directive from January 2025, while verification of tax identification numbers is expected to start from Jan.
- The directive will specify the scope and requirements for mandatory automatic exchanges of information (AEOI) by crypto-asset service providers.
- Certain categories of income will be subject to mandatory AEOI between EU member countries.
- AEOI will also apply to cross-border rulings that involve high net-worth individuals with at least 1 million euros (US$1 million) in financial or investable wealth, which were issued, amended, or renewed between Jan. 1, 2020, and Dec. 31, 2025.
The proposed measures are expected to take effect from Jan. 1, 2026, and interested parties can provide feedback until Mar. 30. Additionally, penalties will be imposed for non-compliance with the directive.
Source: slov-lex.sk
