Slovenian tax authority proposes 10% tax on crypto income

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According to local media reports, the financial administration of the Republic of Slovenia, FURS for short, is considering a taxable income statement of 10% on activities in cryptocurrencies in the near future.

Under the current legislative methodology, the agency analyzes a person’s digital asset activities on a case-by-case basis by sifting through their buying and selling transactions. This can lead to a stagnant and lengthy crypto management process.

The rollout of this advanced initiative aims to digitally streamline the process and focus solely on buying goods and services or converting crypto assets into fiat currencies. Within these parameters, natural persons are taxed at a rate of 10% of their income.

In the STA news report, FURS shared additional information on the proposal:

“We would like to emphasize that it is not the profit that is taxed, but the amount that a Slovenian taxpayer receives in his bank account when he converts the virtual currency into cash or buys something.”

French government pushes for agency to regulate crypto across the EU

Slovenia has been a consistent voice in adopting digital assets and blockchain technology across Europe in recent years.

An aggregated cryptocurrency index compiled by financial research firm Crypto Head ranked Slovenia 7th in its ability to fully acquire cryptocurrency assets calculated using a variety of metrics including Google searches, crypto ATM saturation, and legislation.