Greece would tax cryptocurrency capital gains at 10%, not the 15% officials floated in June, and exempt the first 500 euros a year under a draft bill. Key Points: Greece's draft bill taxes cr
Greece would tax cryptocurrency capital gains at 10%, not the 15% officials floated in June, and exempt the first 500 euros a year under a draft bill.
Key Points:
- Greece's draft bill taxes crypto capital gains at 10% and exempts the first 500 euros a year.
- Crypto-to-crypto swaps would go untaxed, while staking and lending returns face the same 10% rate.
- Officials described a 15% rate in June, and the bill is due in parliament in November.
The Ministry of National Economy and Financeposted the bill for public consultation late Wednesday, inside a wider package on private debt and financial markets. Consultation closes at 10 a.m. on Oct. 22. The ministry aims to send the bill to parliament and have it voted on in the first week of November.
Individuals would pay 10% on gains from transferring crypto assets, generally measured as the difference between the acquisition price and the transfer price, with an average cost used for assets bought in stages. Gains of up to 500 euros ($560) per tax year would go untaxed, and swapping one crypto asset for another would not create a taxable gain.
Staking, lending and liquidity returns would be taxed as interest at 10%. Crypto sales would not carry Greece's digital transaction fee, while separate rules set how to value inherited or gifted holdings and crypto granted to employees, partners or shareholders. The draft also opens a 12-month window after the law's publication for taxpayers to declare gains from earlier transfers without fines or interest, subject to conditions.
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A 10% levy would rank among the lower crypto tax rates in the European Union, where Germany, France and Italy are setting or planning rates above 25%. Rates across Europe run from 8% to 30%, and the EU has no unified system.
Greek officials have not projected how much revenue the tax could bring in. Most Greek investors use platforms based outside the country, which makes the size of the domestic market hard to estimate. EU reporting rules known as DAC8 took effect Jan. 1 and require crypto service providers to collect customer and transaction data, which tax authorities will exchange in 2027.
The ministry said the crypto rules close a legal gap and give taxpayers more certainty. The bill could still change before lawmakers vote.
In June, two government officials said the Finance Ministry was preparing a 15% capital gains tax on crypto with the same 500-euro exemption.
One senior official said at the time that the aim was to include cryptocurrencies in the country's tax code, which has no comprehensive framework for taxing them. That outline spared individual crypto mining but covered mining by registered corporations, and the ministry's announcement this week gave no reason for the lower rate.
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