Greece is preparing draft legislation to impose a 10% capital gains tax on cryptocurrencies, marking the country's first dedicated digital asset taxation framework. The move aligns with broader EU efforts to regulate crypto while leaving tax rules to member states.
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Greece is preparing draft legislation to impose a 10% capital gains tax on cryptocurrencies, according to a report by Cointelegraph. This would be the country's first dedicated digital asset taxation framework. The proposal targets gains from crypto disposals, meaning profits when assets are sold or exchanged. Until now, Greece lacked specific rules for taxing crypto, leaving treatment ambiguous under general tax law. The 10% rate applies to capital gains, distinguishing it from ordinary income tax rates that can reach 44% in Greece.
The move comes as the European Union implements the Markets in Crypto-Assets (MiCA) regulation, which provides a licensing framework for crypto service providers but leaves taxation to member states. Several EU countries have introduced crypto tax rules in recent years, though rates and holding-period rules vary widely. For example, Portugal taxes crypto gains at 28% for holdings of less than a year, while Germany exempts gains on assets held longer than one year. Greece's proposed 10% rate would be lower than Portugal's standard rate, potentially positioning it as a more favorable regime within the bloc. This reflects a broader trend of governments bringing digital assets into the tax net.
A 10% capital gains tax would apply to profits made when crypto assets are sold or disposed of. The draft legislation is expected to define how gains are calculated, including cost basis and possibly holding periods, as well as how losses can be offset. Greece's tax authority would likely administer the tax, requiring investors to report crypto transactions. Retail traders and long-term holders who have previously operated without clear reporting obligations would be affected. The proposed rate is significantly lower than Greece's top personal income tax rate of 44%, which may be designed to encourage voluntary compliance.
The draft legislation must be approved by the Greek parliament before it becomes law. The timeline for passage is not specified in the report, and the effective date would likely be set in the final law. Once enacted, the framework would mark a significant shift for Greece's treatment of digital assets, which have largely existed outside explicit tax rules. Crypto exchanges and service providers operating in Greece may also face new reporting or withholding requirements under the law. The finance ministry is expected to issue guidance on compliance once the legislation is finalized.
Greece is preparing draft legislation to impose a 10% capital gains tax on cryptocurrencies. This would be the country's first dedicated digital asset taxation framework, aimed at bringing crypto gains into the tax system. The tax would apply to profits from selling or disposing of crypto assets.
The draft is still being prepared, so no effective date has been announced. It would need approval from the Greek parliament before becoming law. The final legislation would likely specify when the tax starts and how it will be administered.
At 10%, the proposed rate is lower than some EU peers. Portugal taxes crypto gains at 28% for holdings under a year, while Germany exempts gains on assets held over a year. This suggests Greece may be aiming for a relatively light-touch regime to encourage compliance.
The draft legislation is expected to require reporting of crypto disposals and gains. Investors would need to calculate profits based on cost basis and sale price. The exact reporting requirements will be detailed in the final law and guidance from the tax authority.
Greece's First Crypto Tax Framework
Alignment with EU and Global Trends
How the Tax Would Work and Who Is Affected
What Happens Next
This article is rewritten from public news sources and further processed by AI. It is provided for information only and does not constitute investment advice — refer to the original source for the authoritative version.
Yes, exchanges and service providers may face new obligations, such as reporting user transaction data or withholding taxes. These requirements would complement the EU's MiCA regulation, which already imposes licensing and compliance rules. The final scope will depend on the draft law approved by parliament.
