Slovenian authorities intend to introduce a 10% income tax on transactions with Bitcoin, Ethereum and other cryptocurrencies.
The Financial Administration of the Republic of Slovenia (FURS) intends to impose a 10% profit tax on transactions conducted using Bitcoin (BTC) and other digital assets.
Under the current legislation, financial regulators can analyse transactions conducted by individuals with cryptographic currencies on a case-by-case basis. As regards the new tax initiative, the authorities say that purchase of goods and services with crypto, as well as conversion of cryptocurrencies into fiat money will be taxed to the amount of no more than 10%.
Investing.com reports that the FURS shared some information about the project during its interview for one of the regional media, saying “We would like to emphasise that it is not profit which would be taxed but rather the amount a Slovenian tax resident receives on their bank account on turning the virtual currency into cash or when buying a thing.”
Recently, Slovenia has been an advocate for introducing digital assets and spreading blockchain technologies throughout Europe. The country ranked seventh in its capacity to fully adopt cryptocurrency assets, according to an aggregated cryptocurrency index created by the financial research firm CryptoHead. This index was calculated using a variety of metrics including Google searches, crypto ATM saturation and legislation.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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