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Home Is PayPal available in Slovenia?
10 May 2023 By PAYCEC
Yes, PayPal is available in Slovenia, where it continues to be a highly sought-after online payment method. With more than 300 million active users worldwide, the platform has seen accelerated growth in recent years.
This financial service enables users to make online payments via a secure internet account by linking bank accounts, credit cards, or debit cards to their PayPal account. Funds can also be transferred from a bank account to a PayPal account for hassle-free online payments without cards.
In addition to making payments, PayPal allows users to receive money, which can be held in their PayPal account or transferred to a linked credit or debit card or bank account.
For personal use, PayPal is entirely free in Slovenia, provided that no currency conversion is required. However, business users are subject to a fee for the service. And with a PayPal business account, startups and established businesses can easily accept and process credit or debit card payments from over 25 currencies and 200 countries.
PayPal account and the tax obligations in Slovenia
Individuals using PayPal accounts often ask if they need to report this account to the tax office. I also ask about the taxation of funds received from my PayPal account. Individuals who use PayPal accounts frequently inquire whether they must report this account to the IRS.
In Slovenia, the Finance Office of the Republic of Slovenia (FURS) requires mandatory registration of overseas bank accounts under the Act on Mandatory Registration of Overseas Bank Accounts. However, PayPal online services are not considered bank accounts under FURS regulations due to their non-cash payment method.
If you do not use PayPal for payment services, you are not required to register your account with FURS. However, if you decide to upgrade your account by adding a bank account, you must register the IBAN within eight days of receipt. It is the requirement for all foreign bank accounts in Slovenia.
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