Slovenia Financial Agency Proposes New 10% Crypto Tax

Slovenia’s tax agency, the Financial Administration (FURS), has proposed new rules for crypto taxation, the Slovenian Press Agency (STA) reported on Tuesday.

• According to the report, 10% tax will be imposed on any transactions when cryptocurrencies are spent on goods or exchanged for cash.
• The measure is supposed to make cryptocurrency-related tax reporting easier. Under current rules, individuals must pay capital-gains tax when selling crypto, though the rules in any particular case depend on the circumstances, wrote Total Slovenian News.
• The new rule would make it easier for taxpayers to figure out their crypto-related taxes by just registering the total value they received when disposing of crypto, rather than providing the entire history of their transactions to prove they received income or incurred a loss, the news outlet wrote.
• “We would like to emphasize 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,” said the Financial Administration, quoted by Total Slovenian News.