A company records cryptocurrency neither as cash nor as foreign currency, but the exact treatment differs between the two countries. Slovakia books it as short-term financial assets (account group 25); Czechia books it as inventory of a special kind. In both, crypto is measured at acquisition cost, is not revalued to fair value at the balance-sheet date, and the profit is taxed only when the coin is sold or exchanged.
What is cryptocurrency from an accounting point of view?
In neither Slovakia nor Czechia is cryptocurrency treated as money or as a foreign currency. Both countries needed a workaround because their accounting laws did not originally address it. The consequence is the same in principle — crypto is not depreciated and no foreign-exchange differences are recognised on it — but the balance-sheet classification differs, which is where accountants operating across both markets need to be careful. Our overview of professional accounting in Slovakia sets out the wider context.
How does Slovakia account for and tax crypto?
Under the Slovak Accounting Act (431/2002) and the Ministry of Finance decree on accounting procedures, virtual currency is treated as short-term financial assets other than cash — account group 25. When bought, it is measured at acquisition cost; when acquired by exchange for another crypto, at fair value on the acquisition date.
Crucially, Slovakia does not revalue crypto to fair value at the balance-sheet date, so an unrealised gain is not taxed while the coin is merely held. A taxable event arises on a sale or exchange — for assets, services, a stablecoin or another cryptocurrency — measured at fair value on the date of exchange under § 17(43) of the Income Tax Act (595/2003), effective for companies since 1 January 2024. The resulting profit is taxed at the standard corporate income tax rate.
How does Czechia treat the same transactions?
Following the Czech Ministry of Finance guidance of 15 May 2018, crypto is booked as inventory of a special kind under § 9 of Decree 500/2002 Coll. As with Slovakia, it is measured at acquisition cost, is not revalued to fair value at year-end, and no exchange-rate differences are recognised; a lasting drop below cost may justify an inventory allowance.
A company sells or exchanges crypto and recognises the profit as taxable income, taxed at the 21 % Czech corporate income tax rate that also applies in 2026. Importantly, the personal-tax reliefs introduced from 15 February 2025 — the three-year holding test and the CZK 100,000 annual threshold — apply only to individuals, not to companies. A Czech company therefore always taxes the gain, regardless of the holding period.
Where do the two countries differ most?
The headline difference is the balance-sheet label: Slovakia classifies crypto as a short-term financial asset, Czechia as inventory. This affects which accounts are used and how allowances are considered — in Czechia an inventory allowance for a lasting price fall, in Slovakia the financial-asset logic. The taxable moment, however, is the same in both: recognition on sale or exchange, not while merely holding.
Both regimes also share the principle that a mere increase in the value of held crypto is not taxed. The gain is realised — and taxed — only when the coin leaves the company through a sale, an exchange for goods, services or another asset.
What records must a company keep?
Exchanges and wallets do not issue conventional invoices, so the burden of proving acquisition cost and the course of transactions lies with the company itself. In both countries, weak records risk the tax authority disallowing the claimed cost and taxing the full proceeds. A company should archive exchange and wallet statements for every purchase, sale and exchange, evidence of the market price on the transaction date, a record of fees, and an internal policy on the valuation method for outflows. Setting this up with an accountant in advance avoids costly retrospective corrections; our Slovak tax advisory for companies can help get the treatment right from the outset.
Does your company trade or hold cryptocurrency in Slovakia or Czechia and want its accounting and tax set up correctly? We will design record-keeping and accounting for crypto assets tailored to your business.
FAQ
How does a company record cryptocurrency?
In Slovakia crypto is recorded as short-term financial assets (account group 25); in Czechia as inventory of a special kind under § 9 of Decree 500/2002. In both it is measured at acquisition cost when bought and at fair value when acquired by exchange. It is not depreciated and no exchange-rate differences are recognised.
Is crypto revalued to fair value at year-end?
No. Neither country revalues crypto to fair value at the balance-sheet date; it stays at acquisition cost. An unrealised gain is not taxed while the coin is held. Fair value comes into play only on a sale or exchange, when the realised gain becomes taxable.
Do holding-period reliefs apply to a company?
No. In Czechia the three-year holding test and the CZK 100,000 threshold introduced from 15 February 2025 apply only to individuals, not to companies; a company always taxes the gain at 21 %. Slovakia has no such holding-period exemption for companies either — the gain is taxed on sale or exchange.