Greece Unveils Draft Framework for 10% Crypto Capital Gains Tax with €500 Exemption

Greece has advanced a revised tax architecture for cryptocurrencies, proposing a 10% levy on individual capital gains derived from crypto transfers, with the initial €500 of annual profits remaining tax-free.

The initiative sits within a wider draft law circulated by the Ministry of National Economy and Finance for public consultation beginning October 7. Officials state the new framework aims to resolve existing legislative ambiguities surrounding crypto-asset taxation and to offer greater fiscal certainty.

Under the plan, capital gains would generally be assessed as the difference between the acquisition price and the transfer price of the digital asset. The draft further codifies protocols for transaction documentation and the determination of average acquisition costs in cases where assets were purchased across multiple transactions.

Crypto-to-Crypto Exchanges Exempt from Capital Gains Tax

A significant provision stipulates that converting one cryptocurrency into another would not generate a taxable capital gain under the proposed rules. Consequently, crypto-to-crypto transactions would be handled distinct from standard taxable transfers.

The proposal also subjects returns from crypto lending, liquidity provision, and staking to the 10% rate, categorizing such income as interest.

The draft covers crypto-assets received as benefits in kind by employees, partners, or shareholders, valuing them in euros at the time of receipt. Crypto purchases would additionally count toward asset-acquisition expenses for the application of Greece’s tax presumptions.

For inheritance, gift, and parental-benefit assessments, crypto-assets would be deemed intangible movable property located abroad, valued in euros according to the rate prevailing the day before the tax liability takes effect.

Additionally, the proposal mandates that no Digital Transaction Fee be applied to cryptocurrency sales. It also grants taxpayers, under specified conditions, the option to voluntarily report capital gains from prior crypto transfers within 12 months of the legislation’s publication, exempt from penalties and interest.

Greece previously lacked a dedicated statutory tax rate for crypto capital gains. If enacted, the proposed 10% levy would rank lower than rates in several major EU jurisdictions; Austria taxes crypto income at 27.5%, Italy at 33%, and France at 30% for private gains, inclusive of social contributions.

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