The Slovenian financial authorities have announced a proposal to tax cryptocurrency users, in particular on cryptocurrency sales activities.
According to local media, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% income tax on cryptocurrency trading in the near future.
Under the current legislative method, the body analyzes an individual’s digital asset activity on a case-by-case basis by reviewing buying and selling transactions. This can result in stagnation and a tedious cryptocurrency administration process.
The introduction of this progressive initiative aims to digitally simplify the process, focusing solely on purchasing goods and services or converting crypto assets into fiat currencies. Within these parameters, a person will be taxed at a rate of 10% on their income.
In the news, STA FURS provided additional information on the proposal:
“We would like to emphasize that it is not the profit that would be taxed, but the amount that the Slovenian tax resident receives into his bank account for converting the virtual currency into cash or when purchasing goods.”
Over the past few years, Slovenia has consistently initiated the implementation of digital assets and blockchain technology across Europe.
The cryptocurrency index created by the financial research company Crypto Head ranked Slovenia 7th for its ability to fully absorb cryptocurrency assets.
03-09-2021, Mr Advice TEAM