Automatic exchange of information is gaining momentum!
The amendment to Act No. 359/2015 Coll. on the Automatic Exchange of Information on Financial Accounts for the Purposes of Tax Administration will enter into force on 01.01.2026, and includes those cryptoassets within the automatic exchange of information. The Slovak Republic is thus adopting European rules (DAC8 directive) and the OECD global standard (CARF).
Obligations of cryptoasset service providers
The amendment introduces the obligation of cryptoasset service providers to report to the Financial Administration the use of cryptoassets for payment and investment purposes.
Enhanced exchange of information
The automatic exchange of information on financial accounts will also cover electronic money and digital currencies of central banks in accordance with the Common Reporting Standard (CRS).
New obligations for users of cryptoassets
The amendment modifies the rules for financial institutions, broadens the scope of information to be reported (e.g. type of account, controlling person status) and introduces new obligations for users of crypto-assets, for example, to provide an affidavit (containing data which allow identification of tax residency for the purposes of automatic exchange of information) and to cooperate in data updates.
Amendment to Act No 442/2012 Coll. - International Assistance and Cooperation in Tax Administration
Exchange of information extended to natural persons
The scope of the automatic exchange of information is extended to cross-border binding opinions issued to a predetermined group of natural persons.
Enhanced notification rules
The rules on the notification and assignment of tax identification numbers have also been enhanced to facilitate the unambiguous identification of taxpayers.
Changes to the percentage tax designation for parents
Technical amendments and supplements
In addition to the adjustments related to the automatic exchange of information, there are also technical amendments to the percentage tax designations for parents.
Filing of declarations
The procedure for filing declarations and verifying the conditions for designating a percentage of the tax paid has been clarified. The Social Insurance Agency will be responsible for the payment of the designated part of the paid income tax.
The amendment also affects the Tax Advisers Act
Modification of the confidentiality obligation
Tax advisers will no longer be able to refuse to provide information in cross-border data transfers for tax purposes, if requested by the tax authorities.
Mitigated integrity requirements
Certain minor offences will no longer automatically disqualify a person from becoming a tax adviser.
Serious criminal offences
However, persons convicted of intentional crimes against property, economic crimes or particularly serious crimes will not be allowed to work in the profession.
