Daně a legislativa ČR
Exchange Rates and Converting Investment Gains to Czech Crowns for Tax Purposes
Key takeaways
- Investment income in EUR or USD must be converted to CZK for the tax return.
- You have a choice: the uniform MF exchange rate (issued each year) or the CNB rate on the date the income was received.
- The chosen method must be applied consistently to all income in the same year.
- Both the purchase price and the sale proceeds are converted using the same method — otherwise the correct tax base cannot be calculated.
- This is not tax advice — verify the current methodology with an adviser.
If you invest in foreign ETFs or stocks in euros or dollars, you must convert all income to Czech crowns — tax returns are always filed in CZK. Two methods are permitted in the Czech Republic for this conversion.
The Ministry of Finance Uniform Exchange Rate
Each year the Ministry of Finance issues a uniform exchange rate for each currency. The rate is an average of the entire preceding year, derived from CNB data. It is normally published in January or February and applies retroactively to the entire preceding year. Advantage: you do not need to track the exchange rate for every transaction — you use one rate for everything. Disadvantage: it does not exactly match the rate on the transaction date.
The CNB Rate on the Transaction Date
The alternative is to use the CNB rate in effect on the date the income was received (or the preceding day). Advantage: precision. Disadvantage: for every purchase, sale, or dividend you must look up and record the current rate. For DCA investors with dozens of transactions per year this is more work, but more accurate.
Converting Both Purchase Price and Sale Proceeds
To calculate the tax base correctly you convert both: the sale proceeds and the purchase price. The tax base is then the difference between these two CZK figures. If you bought at different times and different exchange rates (using the CNB rate), each lot may have a different converted base. The FIFO calculation method is described in the FIFO method: how gains are calculated on sales.
Where to Find the Exchange Rates
- MF uniform rate: the Ministry of Finance or financial administration website (cnf.cz) — search for "uniform exchange rate" plus the relevant year.
- Historical CNB rates: kurzy.cnb.cz — daily foreign exchange market rates for every business day going back in history.
For a correct return, note for each transaction: date, type of income, amount in foreign currency, and the exchange rate used. How to keep trade records is described in the article tax records of trades.
This article is not tax advice. Conversion methodology may change — verify the current guidelines or consult a tax adviser. See also ETF taxes in the Czech Republic.
FAQ
Can I use a Revolut rate or broker rate for tax purposes?
Czech tax regulations require the use of the CNB rate or the uniform MF rate. Rates from commercial banks, exchange offices, or payment apps are generally not sufficient for tax conversion. Consult your adviser.
If I buy every month (DCA) — do I need to remember the rate for every purchase?
If you use the CNB rate on the transaction date, yes — record the applicable rate for every purchase and sale. If you use the uniform MF rate, one rate applies to the whole year and record-keeping is considerably simpler.
When is the uniform MF rate for 2026 published?
The uniform MF exchange rate for tax year 2026 will likely be published in January or February 2027. Monitor the Ministry of Finance or financial administration website. It can only be used in the 2026 return after it is published.