Financial Administration In Slovenia Proposes Special 10% Tax On Crypto Income
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.
“We would like to emphasize that it is not profit which would be taxed but rather the amount a Slovenian tax resident receives on their bank account on turning the virtual currency into cash or when buying a thing.” FURS said according to the media.
Crypto Adoption In Slovenia
In recent times, Slovenia has projected itself as a hotspot for blockchain and cryptocurrency-related activities. With an estimated population of 2 million, the country contains more physical locations accepting cryptocurrency payments than the entire United States.
According to GoCrypto, in 2020, more than 1,000 locations now allow cryptocurrency payments, including cafes, restaurants, dentists, hair salons, and hotels. At the beginning of 2019, it was also the only country in the world where you could survive solely on cryptocurrencies.