Key Takeaways
- • Greece's draft bill, now in public consultation, would impose a flat 10% tax on cryptocurrency capital gains, below the 15% rate Finance Ministry officials had earlier floated.
- • Annual crypto capital gains of up to €500 (about $559.95) would be exempt from the new tax.
- • The bill is expected to reach parliament in November, with the cabinet scheduled to consider it on October 14.
- • Per the draft, the holding period requirement ends from 2027, and holdings acquired up to December 31 would be grandfathered.
- • Greece currently has no crypto-specific tax rate in force, so the proposal would create the country's first dedicated treatment of crypto gains.
Summary
Greece is preparing legislation that would tax cryptocurrency capital gains at a flat 10%, according to multiple reports based on a draft bill now in public consultation. Reuters reported that the draft bill would exempt crypto capital gains of up to €500 (about $559.95) per year from the new tax. The bill is expected to reach parliament in November.
The proposed 10% rate is lower than the 15% the Finance Ministry had been preparing earlier in the year. Two government officials with knowledge of the matter had previously told Reuters that the ministry was drafting a 15% capital gains tax on cryptocurrencies. Commentary on the revised proposal describes the 10% rate as lower than most of Greece's European peers.
Greece currently has no crypto-specific tax rate in force. Reports indicate the draft would also address holding periods and transitional treatment. According to one summary of the proposal, the holding period requirement ends from 2027, and holdings acquired up to December 31 would be grandfathered. The cabinet is scheduled to consider the draft on October 14, and the bill's final terms could change before it is submitted to parliament.
The proposed 10% rate is lower than the 15% the Finance Ministry had been preparing earlier in the year. Two government officials with knowledge of the matter had previously told Reuters that the ministry was drafting a 15% capital gains tax on cryptocurrencies. Commentary on the revised proposal describes the 10% rate as lower than most of Greece's European peers.
Greece currently has no crypto-specific tax rate in force. Reports indicate the draft would also address holding periods and transitional treatment. According to one summary of the proposal, the holding period requirement ends from 2027, and holdings acquired up to December 31 would be grandfathered. The cabinet is scheduled to consider the draft on October 14, and the bill's final terms could change before it is submitted to parliament.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.