Key Takeaways
- • Greece is preparing a 10% capital gains tax on cryptocurrency under a draft bill published for public consultation, with submission to parliament expected in November, according to Reuters.
- • Annual crypto gains of up to €500 ($560) would be exempt, so only profits above that threshold would be taxed.
- • The proposed 10% rate is well below the over-25% levels that Germany, France and Italy have set or are planning, making Greece one of the lower-rate jurisdictions in the EU.
- • Greek officials have not published any revenue projections, and the size of the domestic crypto market is hard to estimate because most investors use platforms based outside the country.
Summary
Greece is preparing to impose a 10% capital gains tax on cryptocurrency, Reuters reported, citing a draft bill published for public consultation. The bill is expected to be submitted to parliament in November. Under the proposal, gains of up to €500 ($560) a year would be exempt from the tax.
The measure would place Greece among the lower-rate tax jurisdictions in the European Union. Germany, France and Italy have set or are planning to set capital gains rates on crypto above 25%, according to Reuters. CoinDesk's reporting on the proposal notes that the Greek rate is lower than several of its European neighbors.
Greek authorities have not yet estimated the revenue the tax would generate. Reuters reports that the size of Greece's cryptocurrency market is also difficult to gauge, because most Greek investors transact on platforms outside the country. That limits the government's visibility into trading volumes and makes it harder to forecast receipts.
The proposal reflects a broader trend across governments of aligning the tax treatment of digital assets with that of traditional investments such as stocks. As crypto becomes a more common part of mainstream investment portfolios, authorities are moving to apply capital gains frameworks similar to those used for conventional securities. For institutional investors and fund managers with Greek exposure, the draft bill's final terms, including the exemption threshold and rate, will determine how the regime compares with other EU jurisdictions.
The measure would place Greece among the lower-rate tax jurisdictions in the European Union. Germany, France and Italy have set or are planning to set capital gains rates on crypto above 25%, according to Reuters. CoinDesk's reporting on the proposal notes that the Greek rate is lower than several of its European neighbors.
Greek authorities have not yet estimated the revenue the tax would generate. Reuters reports that the size of Greece's cryptocurrency market is also difficult to gauge, because most Greek investors transact on platforms outside the country. That limits the government's visibility into trading volumes and makes it harder to forecast receipts.
The proposal reflects a broader trend across governments of aligning the tax treatment of digital assets with that of traditional investments such as stocks. As crypto becomes a more common part of mainstream investment portfolios, authorities are moving to apply capital gains frameworks similar to those used for conventional securities. For institutional investors and fund managers with Greek exposure, the draft bill's final terms, including the exemption threshold and rate, will determine how the regime compares with other EU jurisdictions.
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