Greece is preparing legislation that would impose a 10% tax on capital gains from cryptocurrencies, according to a draft bill released on Thursday local time. The proposal has entered the public consultation stage and is expected to be submitted to parliament in November. Under the draft, individual investors would be exempt from tax on the first €500 in annual crypto capital gains, equivalent to about $559.95. Greece does not currently have a complete tax framework for cryptocurrencies. Officials said it remains difficult to estimate the size of the country’s crypto market because the vast majority of investors use offshore platforms. As a result, the government has not issued a specific forecast on how much fiscal revenue the proposed tax could generate. The measure, if advanced, would mark a clearer attempt by Greece to define how crypto investment income is treated under tax law.
Greece is preparing legislation to impose a 10% tax on capital gains from cryptocurrencies, according to a draft bill released on Thursday local time. The proposal has now entered the public consultation stage and is expected to be submitted to parliament in November.
Under the draft, individual investors would receive a tax exemption on up to €500 in annual crypto capital gains, or about $559.95.
Greece does not yet have a complete tax framework for cryptocurrencies. Officials said it is difficult to accurately estimate the size of the country’s crypto market because the vast majority of investors use offshore platforms. The government has therefore not provided a specific forecast for the fiscal revenue that the new tax could bring.
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