Slovenia Clears Up How it Might Tax Digital Currencies
In response to numerous queries from the public, the Slovenian tax administration issued a statement this week clarifying its position on Bitcoins and other cryptocurrencies. The tax agency sought clarity from the country’s ministry of finance, which said Slovenia does not regard digital currencies as monetary assets, nor does it consider digital currencies to be financial instruments. That said, taxes on Bitcoin profits could be levied on a case-by-case basis, depending on who actually generates the income, according to the statement. Bottom line: The door is open to having your Bitcoin....
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Slovenian regulators have released a statement clarifying certain ambiguities related to bitcoin and other digital currencies. The Tax Administration of the Republic of Slovenia said it received queries from taxpayers who were interested in the possible tax implications of bitcoin transactions. In response, the Tax Administration requested a formal response from the Ministry of Finance, which stated that bitcoin remains a virtual currency - thus, it is not a 'monetary asset' under Slovenian law. Furthermore, bitcoin is not considered a financial instrument, either. However, the ministry....