TAX System

Taxation of natural entities

Investor who buys investment coupons is imposed to taxes when these investment coupons are paid out or capitalised.

 

The capitalisation of investment fund coupon and the payment of the proportional part of the liquidation trust in the event of mutual fund liquidation is considered as taxable disposal of capital (investment coupon).

 

The taxable base which presents the exact tax amount is determined as the difference between the investment coupon value at sale and investment coupon value at purchase.

 

Investment coupon value at purchase (purchase value) equals the product of the number of units and value of one asset unit, increased by the annual consumer goods prices growth rate (e. g. valorisation) and by 1% due to actually paid subscription fees at most. Investment coupon value at sale (sales value) equals the product of the number of asset units and the value of one asset unit.

 

Income tax is paid at 20% rate on the basis of the established taxable base. Income tax level is decreased by every five years of investment coupon ownership:

• After five years of ownership income tax amounts to 15 %
• After ten years of ownership income tax amounts to 10%
• After fifteen years of ownership income tax amounts to 5%
• After twenty years of ownership income tax amounts to 0%.

Investment coupons are managed according to first-in-first-out method.

 

Tax on capital gains is established by the taxation authority decision on the basis of the annual income tax declaration of every taxable person, this declaration must be submitted by every 28 February for the previous year. The taxation authority then issues its decision for the previous year by 31 May of the current year.

 

Taxable person that is not a resident of the Republic of Slovenia does not pay tax on capital gains, attained due to the sale of investment coupons.

 

This taxable person has to submit his/her declaration within 15 days from the sale of investment coupons or until 28 February (for the previous year), if all sales of securities and similar stakes as well as investment coupons were made.

Taxation of legal entities

After the mutual fund investment coupon or the proportional part of the liquidation trust in the case of a liquidation of the mutual fund is paid off, all income is taxed in accordance with Corporate Profit Tax Act (OG RS No. 17/05 – UPB1 and 108/05, hereinafter: ZDDPO-1), namely at 25% tax rate on the established taxable profit. In case of determination of taxable base all investors – legal entities – are required to consider all special accounting regulations, revaluations and adjustments in the case of selling the investment coupon or receiving the payment of the proportional part of the liquidation trust in case of mutual fund liquidation in accordance with Act 11a of the ZDDPO-1.

Taxation of mutual funds

A mutual fund is not subject to pay corporate tax, since it is not a legal entity.

 

WARNING:

 

We would like to emphasize that the amount of the actual taxation which emerges due to investment coupons ownership, payout of the investment coupon value and other facts, connected to investment coupons ownership, depends on the tax situation of every individual holder.