Crypto Regulations in Slovenia
Slovenia does not have a specific law in place for crypto-related transactions, even if it was one of the first countries in the European Union to use digital coins for payments. However, just like other EU states, in 2020 it amended the Prevention of Money Laundering and Terrorist Financing Law by harmonizing it with EU directives.
Source: Company Formation Slovenia
Cryptocurrencies refer to virtual currencies such as bitcoin or litecoin. More and more companies in Slovenia have set their operations in the field of cryptocurrency transactions, a fact which led the Slovenian government to adopt a transparent legal framework concerning to this commercial issue. Recently, the Tax Administration in Slovenia clarified that since cryptocurrencies are virtual coins, they are not considered as monetary assets therefore they are not taxed in this country. Only as far as bitcoin or other cryptocurrencies generate income, the revenues will be taxed by the Slovenian state through the income tax.
Source: Company Formation Slovenia
Slovenia does not have a specific law in place for crypto-related transactions, even if it was one of the first countries in the European Union to use digital coins for payments.
Source: Company Formation Slovenia
Another new law that was introduced in October 2021 but is still under debate refers to the taxation of crypto-related transactions. At the moment there are two alternatives to it: – the first one implies a flat tax rate of 10% for any exchange of virtual currency for Fiat currency and for the purchase of goods or services with virtual money; – the alternative would be a flat tax would be a flat rate of 20%; – exemptions would be available for transactions of up to EUR 15,000.
Source: Company Formation Slovenia
According to the legislative proposal, the flat tax rate (10%) will apply to (1) any exchange of virtual currency for Fiat currency or (2) the purchase of goods or services with virtual currency. Transactions up to 15.000 EUR cumulatively per calendar year are tax-exempt. In order to secure simplicity of taxation, the tax base is the amount of virtual currency sold. Additionally, a tax-exempt transaction is also the exchange of virtual currency for the purchase of real estate or corporate shares. The timing of taxation is the day when the exchange for the fiat currency or purchase of the goods/services takes place. The annual report of all sales or exchanges of virtual currency for a specific calendar year must be submitted to the tax authorities electronically by the end of February of the following year. Tax must be paid within 5 days after the submission of the annual report.
Source: WTS Global
Slovenia does not have a specific law in place for crypto-related transactions, even if it was one of the first countries in the European Union to use digital coins for payments.
Source: Company Formation Slovenia
Slovenia is the first Member State of the EU to establish a blockchain test infrastructure, after last week’s announcement from China about similar plans for the national blockchain infrastructure. Within the EU framework, Slovenia will actively participate in the development of use cases implemented on European Blockchain Services Infrastructure.
Source: Gov Si
A Slovenian cryptocurrency mining marketplace, NiceHash, said it lost about $64 million worth of bitcoin in a hack of its payment system, the latest incident to highlight risks that uneven oversight and security pose to booming digital currencies.
Source: Reuters
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