The Greek Parliament approved a bill imposing a 10% capital gains tax on cryptocurrencies. This marks the country’s first comprehensive legislative framework for the taxation of crypto-assets.
Under the new law, annual income of up to 500 euros ($563) derived from cryptocurrency transactions is exempt from taxation.
A senior official from the Ministry of Finance stated that further clarifications regarding the implementation of the law—including rules on transparency and auditing—will be released in the coming weeks.
There is no unified system for taxing the cryptocurrency sector within the European Union. Tax rates on cryptocurrencies across European nations range from 8% to 30% and generally apply to capital gains.
According to the ministry official, it is currently impossible to forecast the resulting tax revenue, as the vast majority of investors use foreign platforms, making it difficult to gauge the true scale of the cryptocurrency market in Greece.