According to local media reports, the Monetary Authority of the Republic of Slovenia (FURS) is considering a 10% taxable income bill on cryptocurrency asset activities in the near future.
According to the current legislative method, the authorities analyze individual digital asset activities case by case by trawling individual sales and purchases. This can lead to stagnant and tedious encryption management processes.
The launch of this progressive plan aims to simplify the process digitally, focusing only on purchasing goods and services, or converting encrypted assets into legal tender. Within these parameters, individuals will be taxed at 10% of their income.
In the STA news report, FURS shared other information about the proposal:
“What we want to emphasize is that it is not profits that should be taxed, but the amount that Slovenian tax residents receive from their bank accounts when they convert virtual currency into cash or purchase items.”
In the past few years, Slovenia has been leading the adoption of digital assets and blockchain technology in Europe.
The aggregate cryptocurrency index created by the financial research company Crypto Head Rank Slovenia ranks seventh in terms of fully adopting cryptocurrency assets calculated using various indicators, including Google search, cryptocurrency ATM saturation, and legislation.