Slovenian finance authority proposes 10% tax on crypto income
Slovenian financial authorities have announced a proposal to tax cryptocurrency participants 10% on their asset income, specifically on purchasing and selling activities. According to local media reports, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% taxable income bill on cryptocurrency asset activity in the near future.Under the current legislation method, the authority analyses an individual's digital asset activity on a case-by-case basis by trawling through their buy and sell transactions. This can result in a stagnant and tedious....
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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....
Slovenia’s crypto tax bill proposes a 10% tax on fiat-crypto conversions and payments made with cryptocurrencies. Slovenia’s Ministry of Finance is reportedly seeking public consultation on a draft bill related to taxing cryptocurrency investments, according to local reports. The ministry’s intent to gauge investor sentiment comes almost a month after the Financial Administration of the Republic of Slovenia proposed a 10% tax on cryptocurrency activities. If signed into law under Slovenia’s Income Tax Act, the proposed bill will impose a 10% tax rate on every fiat-crypto conversion and....
Slovenia, though small, is one of the fastest-growing nations in Europe, especially in the business and economic contexts. After its successful economic succession from Yugoslavia, it was the first to join the European Union in 2004 and is the wealthiest Slavic nation, as measured by per capita GDP. Crypto adoption in Slovenia has rapidly grown over the years. The awareness of cryptocurrencies among its citizens is relatively high. The Proposed Crypto Tax Bill According to reports by local media, the Financial Administration of the Republic of Slovenia (FURS) has put forward a proposal to....
The Indian government has proposed taxing income from cryptocurrencies and other digital assets at 30%. India’s finance minister, Nirmala Sitharaman, said: “There’s been a phenomenal increase in transaction in virtual digital assets … The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime.” 30% on Crypto Income Indian Finance Minister Nirmala Sitharaman proposed taxing income from cryptocurrencies and other digital assets at 30% while presenting the federal budget Tuesday. She said: I propose to....
The Israeli Tax Authority has issued an official draft circular to clarify the tax guidelines that apply to bitcoin adopters. In an announcement last week, the Israel Tax Authority released its draft [PDF] on the proposed taxation of virtual currencies which are considered “assets”. Pointedly, the announcement also cites the Bank of Israel – the country’s central bank – which does not see bitcoin or virtual currencies as foreign currencies and will, therefore, be taxed according to existing fixed tax rates. An excerpt from the announcement reads: [Bitcoin] will be considered in accordance....