Slovenian financial authorities have proposed a 10% tax on cryptocurrency income.
The Slovenian regulators have announced a plan to tax crypto investors 10% on their asset income. Notably, on buying and selling activities.
A local media reported the news. According to the media, the Financial Administration of the Republic of Slovenia (FURS), plans to introduce a 10% due income bill on crypto-asset activity shortly.
Based on the report, the authorities noted that they would analyze an individual's digital asset activity on a case-by-case basis by going through their buy and sell transactions. As a result, it can be a dead and slow crypto regulatory process.
In addition, this initiative strives to digitally streamline the method, focusing only on the buying of goods and services. Or the exchange of cryptos into fiat currencies. Following this, people will be charged at a rate of 10% on their income.
More so, FURS added,
“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.”
Note that Slovenia has been a constant voice in initiating the adoption of digital assets and blockchain tech across Europe in the last few years.