Greece plans 10% capital gains tax on cryptocurrencies
Written by Zoltan Vardaistaff writerEdited by Yohan Yunstaff editorGreece’s draft bill proposes a 10% tax on crypto capital gains, with exemptions for annual gains of up to 500 euros and crypto-to-crypto swaps.
Greece’s Ministry of National Economy and Finance published a draft bill on Wednesday proposing a 10% capital gains tax on cryptocurrencies, with an exemption for annual gains of up to 500 euros ($559.95).
The proposal would allow voluntary declaration of previously realized crypto gains without penalties, exempt crypto-to-crypto swaps from capital gains tax and introduce a flat 10% tax on returns from staking, lending or liquidity provision.
The draft bill would fill a legislative gap in Greece’s treatment of crypto taxation, according to the ministry. Public consultation will close on Oct. 22, with the ministry aiming for a parliamentary vote in the first week of November.
Several European countries have already developed digital asset taxation rules. Austria introduced a 27.5% tax on cryptocurrency gains in March 2022. France introduced a 30% flat tax on individual crypto capital gains in December 2018.
In September, the German Federal Ministry of Finance reportedly issued a draft proposal to subject cryptocurrency trading profits to the standard 25% flat-rate tax starting in 2028. Under current law, individuals’ gains from selling crypto assets held for more than 12 months are generally tax-free.
Related: Crypto adoption blooming in Germany, while UK is falling ‘behind,’ says CoinShares researcher
