Greece’s Ministry of National Economy and Finance has opened public consultation on a draft bill that would tax individual cryptocurrency gains at 10%, lower than the 15% rate government officials described to Reuters in June. Under the proposal, the first €500 of gains in each tax year would be exempt. Crypto-to-crypto swaps would not trigger a taxable gain, and the draft does not impose a digital transaction tax on crypto sales.
The bill sets out how gains would be calculated, using the difference between purchase and sale prices, along with documentation requirements and an average acquisition cost method for assets bought in multiple batches. Income from lending, liquidity provision, and staking would be taxed as interest at 10%. Crypto given to employees, partners, or shareholders as payment in kind would be valued in euros at the time of acquisition.
The proposal also includes a 12-month window after publication of the law for taxpayers to declare gains from earlier sales without penalties or interest, subject to conditions in the bill. Public consultation closes at 10 a.m. on Oct. 22, and the measure is expected to go to parliament in November. Reuters said no specific revenue estimate is available yet, and officials have struggled to gauge the size of Greece’s crypto market because many investors use offshore platforms.
Greece’s Ministry of National Economy and Finance on Oct. 7 released a draft bill for public consultation that would tax individual cryptocurrency gains at 10%, below the 15% rate government officials described to Reuters in June.
Under the proposal, the first €500 of gains in each tax year would be exempt. Swapping one cryptocurrency for another would not create a taxable gain, and the draft includes no digital transaction tax on crypto sales.
How the draft would treat crypto gains
The bill says gains would be calculated as the difference between the purchase price and the sale price. It also sets documentation rules and uses an average acquisition cost method for coins bought in several batches.
Income from lending, liquidity provision, and staking would be taxed as interest at 10%. Crypto transferred to employees, partners, or shareholders as payment in kind would be valued in euros at the time they acquire it.
12-month disclosure window for earlier sales
Taxpayers would have a 12-month window after the law is published to declare gains from earlier sales without penalties or interest, subject to the conditions laid out in the draft.
Part of a broader private debt bill
The crypto tax rules are included in a wider bill focused mainly on private debt, including tighter supervision of loan servicers. The ministry said the tax provisions are meant to address a gap in how crypto is treated under Greek law.
Consultation timeline and unresolved issues
The consultation closes at 10 a.m. on Oct. 22, and the bill is due to go to parliament in November.
Reuters reported that crypto tax rates across Europe range from 8% to 30% and are usually applied to capital gains. Reuters also said officials cannot easily size the Greek crypto market because most investors use offshore platforms. No specific revenue projection for the tax exists yet.
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