Greece is preparing legislation that would impose a 10% tax on cryptocurrency capital gains, according to a draft bill released on Thursday local time. The proposal has now entered a public consultation phase and is expected to be submitted to parliament in November for review.
Under the draft, individual investors would receive an annual tax exemption on the first 500 euros of crypto capital gains, equivalent to about $559.95. Any gains above that threshold would fall under the proposed 10% rate.
The measure comes as Greece still lacks a comprehensive legal framework specifically governing crypto taxation. Officials said it remains difficult to estimate the size of the country’s cryptocurrency market because the vast majority of investors use offshore trading platforms. As a result, the government has not issued a concrete forecast for how much revenue the proposed tax could generate.
Greece is preparing legislation to impose a 10% tax on cryptocurrency capital gains. A draft bill was released on Thursday local time and has entered a public consultation process, with submission to parliament expected in November.
Draft includes a 500-euro annual exemption
Under the proposal, the first 500 euros in annual crypto capital gains for individuals would be exempt from tax, equivalent to about $559.95. Gains above that level would be subject to the 10% rate set out in the draft.
Officials say market size is hard to estimate
Greece does not yet have a complete legal framework for cryptocurrency taxation. Officials said it is difficult to accurately assess the size of the country’s crypto market because most investors use offshore platforms. The government has not provided a specific forecast for the fiscal revenue the new tax might generate.
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