Slovenia Plans For A 5% Tax on Crypto Transactions

The Slovenian government published a flat-rate tax plan on cryptocurrency redemptions on Thursday, asking the Slovenian Parliament to act fast to accept it.
The proposed tax, which is part of the government’s post-COVID recovery plan, would be charged when virtual currencies are sold or exchanged, with an effective rate of just under 5%. The government’s goal is to “debureaucratize” and simplify the current system, as well as boost Slovenia’s competitive position as crypto markets take off.

According to the press release presenting the idea, if the legislation is passed, Slovenia “would be one of the few countries, if not the only one in the world, with such simple taxes” for digital currencies. The country’s financial agency first proposed this bill last year. According to documents released by the government, the tax will be 5% of the redemption value, less a $10,000 euro ($10,900) allowance.

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