Slovenia: No Capital Gains Tax on Bitcoin

[BittBurger]

"Slovenian regulators have released a statement clarifying certain ambiguities related to bitcoin and other digital currencies.  Personal income tax is not paid on capital gains. Hence, individuals who generate income by selling bitcoins will not pay income tax."

http://www.coindesk.com/slovenia-clarifies-position-cryptocurrency-tax/

-B-

[Alias]

My interpretation of this is simply that you don't have to pay "income tax" - that does not necessarily mean that you don't have to pay "capital gains tax".

[Jbanna]

now... how do we become citizens

[jonanon]

That's a good start, now we need the same response from a few more countries!

[skeet]

In my opinion Slovenia might be an exception here but more countries will absolutely taxed those people who generate income selling Bitcoins.

[glub0x]

In my opinion Slovenia might be an exception here but more countries will absolutely taxed those people who generate income selling Bitcoins.

France is a good option too i belive over 50% is taxed if amount >100 000k euro!
but hey only 15% if < 5 000

[Ecurb123]

I really like Slovenia, it's a nice place and this is good news to hear. But to me I don't really care that much if we have to pay capital gains on the sales, because that's just like anything else. In fact maybe if will end up being a positive because it could encourage people to use bitcoin rather than sell it for fiat.

[bryant.coleman]

This announcement will give an enormous boost to Bitstamp. The exchange is registered in Slovenia. 

[Bitcoinpro]

would only be temporary

[AnonyMint]

What about VAT? EU harmonization?

[BitAddict]

More places where you don't pay capital gains tax on bitcoin?

I would like to see a list:

1. Slovenia
2.
3.
4.
5.
6.
7.
8.
9.

[Xendrios]

More places where you don't pay capital gains tax on bitcoin?

I would like to see a list:

1. Slovenia
2.
3.
4.
5.
6.
7.
8.
9.

I believe there's no capital gains tax in my own country (Belgium)

[bryant.coleman]

More places where you don't pay capital gains tax on bitcoin?

I would like to see a list:

1. Slovenia
2.
3.
4.
5.
6.
7.
8.
9.

I think in Switzerland there is no Cap Gains on Bitcoin profits. However, there is a wealth tax.

[gamybtc]

I hope it is available in Asian countries?

Haha.

[bryant.coleman]

Yeah so exclude wealth tax countries too. As far as I'm aware Belgium, Germany and the Isle of Man should be on this list.

Why exclude the wealth tax countries? The maximum wealth tax in Switzerland is 1.6%, which seems minuscule to me. So Switzerland should be on that list.

[Tomatocage]

My interpretation of this is simply that you don't have to pay "income tax" - that does not necessarily mean that you don't have to pay "capital gains tax".

Then I believe you misinterpreted.

How exactly does one misinterpret "individuals who generate income by selling bitcoins will not pay income tax."

[bryant.coleman]

What if the yeild is 10,000 percent? 1.2 is small eh?

This is exactly why I asked the question.

And one more thing... I think that the 1.6% tax applies in Switzerland only if you owns more than 1 million CHF worth of coins. For the other slabs, the rate is much lower.

[Tomatocage]

My interpretation of this is simply that you don't have to pay "income tax" - that does not necessarily mean that you don't have to pay "capital gains tax".

Then I believe you misinterpreted.

How exactly does one misinterpret "individuals who generate income by selling bitcoins will not pay income tax."

Because you claim there might be a capital gains tax while it clearly says there isn't.

It wasn't me, it was Alias. Can you verify that CGT does not have to be paid either?

[BittBurger]

1. Slovenia
2. Germany
3. Isle of Man
4. Belgium
5. Switzerland (1.2% tax)
6.
7.
8.
9.

Any others yet?  

As a side note, we joke about citizenship, but I see no reason why it wouldn't make sense to do two things immediately:  Work on citizenship (dual?) and set up a bank account there.  If you are going to cash out large quantities, you'll want a bank account that has some longevity and activity, so as to avoid questions from the bank.  No reason why you wouldn't set that up now and begin accruing longevity.

As for citizenship, do you have to renounce your US (or other) citizenship to get citizenship in one of these other countries?  I mentioned "dual citizenship" because I've heard of such a thing.  Know nothing about it though...

-Burger

[BitAddict]

1. Slovenia
2. Germany
3. Isle of Man
4. Belgium
5. Switzerland (1.2% tax)
6.
7.
8.
9.

Any others yet?  

As a side note, we joke about citizenship, but I see no reason why it wouldn't make sense to do two things immediately:  Work on citizenship (dual?) and set up a bank account there.  If you are going to cash out large quantities, you'll want a bank account that has some longevity and activity, so as to avoid questions from the bank.  No reason why you wouldn't set that up now and begin accruing longevity.

As for citizenship, do you have to renounce your US (or other) citizenship to get citizenship in one of these other countries?  I mentioned "dual citizenship" because I've heard of such a thing.  Know nothing about it though...

-Burger

Are you sure that if in Germany you buy 5,000€ in bitcoins and after some time you cashout 50,000€ you have 0% to pay? No capital gains tax? No other tax? I don't think is that easy.