Slovenia’s finance ministry opened a public consultation on a draft law on cryptocurrency taxation on October 26, local media reported.
The draft bill was needed to solve the issue of taxing cryptocurrency circulation, estimated at tens of thousands of euros in Slovenia. Cryptocurrencies have gained popularity in the country over the last few years with hundreds of shops and other merchants now accepting payments in Bitcoin Cash.
Slovenia’s Financial Administration (FURS) said on August 30 it has proposed changes to the taxation of income from virtual currencies, in order to allow a new law that will impose a 10% tax rate on digital currencies spent or turned into cash to be passed.
The draft bill foresees a 10% tax on individuals exchanging cryptocurrency for fiat currency and on purchases made with cryptocurrencies, news agency STA reported.
The threshold for tax liability is set at €15,000 in a calendar year.
FURS said in August that it will not be profit taxation, but a taxation of the amount that a tax resident in Slovenia will receive on their account when redeeming a virtual currency or buying something.