Slovenia’s tax agency, the Financial Administration (FURS), has proposed new rules for crypto taxation, the Slovenian Press Agency (STA) reported on Tuesday.
According to the report, 10% tax will be imposed on any transactions when cryptocurrencies are spent on goods or exchanged for cash.
The measure is supposed to make cryptocurrency-related tax reporting easier. Under current rules, individuals must pay capital-gains tax when selling crypto, though the rules in any particular case depend on the circumstances, wrote Total Slovenian News.
The new rule would make it easier for taxpayers to figure out their crypto-related taxes by just registering the total value they received when disposing of crypto, rather than providing the entire history of their transactions to prove they received income or incurred a loss, the news outlet wrote.
“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,” said the Financial Administration, quoted by Total Slovenian News.