a ministry launches a public consultation on the taxation of cryptocurrencies

Slovenia takes position on cryptocurrency taxation

The taxation of digital assets is always a delicate subject to discuss. Between those wanting to strike hard and those wishing to avoid a confiscatory tax, there is little room for discussion. So, to avoid any such quarrel, the Slovenian Ministry of Finance has launched a public consultation on the issue.

The latter relates to a future bill concerning the taxation of cryptocurrencies. More specifically, it refers to the sale of crypto-assets for consideration against a legal tender or payments in digital assets. In short, these are the same tax-giving facts as in France.

The Ministry of Finance reportedly intends to assess investor sentiment on the potential taxation of cryptocurrency gains. However, the country’s financial administration proposed, last August, a single flat tax set at 10%.

👉 To read – Taxation of crypto-assets in foreign countries

An exemption threshold much higher than that practiced in France

If the bill is promulgated, except for a rate three times lower, we would therefore have provisions identical to France in terms of taxation of cryptocurrencies. However, the authorities have predicted a small difference that may make French investors green with envy.

Indeed, as in France, an exemption threshold is provided to trigger taxation. If it is fixed with us at 305 € of transfers for consideration per calendar year, the Slovenian government would retain a much higher amount, 15,000 €.

If this bill appears to be rather favorable to investors and users of digital assets, it is only in comparison with France. Currently, there is no specific tax provision for cryptoassets in Slovenia. In other words, the 0% rate remains the norm for individuals in the country.

Once passed, the new law could be enacted around November 10. It would then be applicable from January 1, 2022.

👉 Find all our articles on cryptocurrency law and taxation

Cryptocurrency taxation remains a hot topic in many countries

Slovenia is not the only country to adopt measures on the taxation of digital assets. It is even a subject that comes up over and over again in the debate.

In France, if almost nothing has changed for two years, the recent tabling of the “Person amendments” in the Finance bill for 2022 has revived the controversy over our low-incentive taxation.

However, it is not only in France that the taxation of crypto-assets has become a bone of contention. In the United States, Democrats recently announced that they wanted to end the tax loophole represented by cryptocurrencies. Also across the Atlantic, Biden’s stimulus plan could strengthen the tax obligations of players in the sector.

In view of the explosion in the digital asset market since the end of 2020, there is no doubt that the taxation of gains made thanks to Bitcoin (BTC) and others will become one of the key themes in the months and months. years to come.

👉 To read – Taxation and cryptocurrencies: how to fill out your tax return?

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About the author: Benjamin Allouch

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Formerly a lawyer specializing in personal data and digital law, I quickly became interested in Bitcoin, blockchain technology and their legal implications. I am now an independent consultant and writer in the field of cryptocurrencies and blockchain.
All articles by Benjamin Allouch.

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