Slovenia’s finance ministry floats 25% tax on crypto transactions

Slovenia’s Finance Ministry is considering a possible 25% tax on crypto trading profits for residents in the country under a new draft law now open for public consultation. 

The bill proposes to tax traders when they sell their cryptocurrency for fiat or pay for goods and services, but crypto-to-crypto and transfers between wallets owned by the same user will be exempt, Slovenia’s Finance Ministry said in an April 17 statement.

Under the proposed legislation, crypto tax will be aligned with existing tax laws. Slovenia taxpayers will be required to keep a record of all their transactions for annual tax returns. The tax base would be calculated on profits by subtracting the purchase price from the sale price. 

In a statement to the Slovenia Times, finance minister Klemen Boštjančič said it’s unreasonable that crypto trading for individuals isn’t currently taxed in the country. 

“The goal of taxation of crypto assets is not to generate tax revenue, but we find it illogical and unreasonable that one of the most speculative financial instruments is not taxed at all,” he said in a statement translated from Slovenian.

Jernej Vrtovec, a member of Slovenia’s national assembly and New Slovenia opposition party, slammed the proposal in an April 16 statement to X, arguing it could stifle crypto growth in the country. 

“Slovenia has the opportunity to become a crypto-friendly country, but with the government’s proposals, we will miss the train again,” he said in a post also translated from Slovenian.

“With excessive taxation, we will once again see young people and capital fleeing abroad. Taxes should encourage, not stifle.” 

The proposal is open to public consultation until May 5. If Slovenian lawmakers pass the bill, it will go into effect on Jan. 1, 2026. 

Slovenia introduced a 10% tax on crypto withdrawals and payments in 2023, but capital gains from occasional crypto trading are not taxed, according to the crypto tax platform Token Tax. 

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Crypto activity can also currently be exempt from tax if it's considered a hobby. Business activity, such as mining or staking, is subject to income tax. 

A previous bill proposed in April 2022 planned to levy a 5% tax on profits over 10,000 euros ($11,372), but it was never passed into law. 

Slovenia issued the first digital sovereign bond in the European Union on July 25 last year. It had a nominal size of 30 million euros ($32.5 million) with a 3.65% coupon and a maturity date of Nov. 25 that year. 

The number of crypto users in Slovenia is projected to reach roughly 98,000 in 2025, according to online data platform Statista, with a penetration rate of 4.6% among its population of 2.12 million people. While the projected revenue for the country's crypto market is slated to hit $2.8 million. 

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