Greek Parliament Passes 10% Crypto Gains Tax With €500 Annual Exemption

Greece has approved a new tax regime imposing a 10% levy on profits from cryptocurrency investments, marking the country's first comprehensive framework for taxing digital asset gains. The measure, passed by parliament on Nov. 5, exempts investors from taxation on annual gains of up to €500.

According to Reuters, the legislation introduces specific cryptocurrency tax provisions into Greek law following months of government preparations. A senior Finance Ministry representative indicated that additional guidance would be issued to clarify implementation, particularly regarding disclosure obligations and tax inspections.

Authorities have yet to calculate the expected fiscal contribution of the new regime. The Finance Ministry official explained that a large proportion of Greek cryptocurrency investors rely on foreign-based trading platforms, making it difficult to determine the actual size of the country's domestic market.

Greece Sets Cryptocurrency Tax Rate at 10% After Earlier 15% Proposal

The final 10% rate represents a reduction from the proposal initially considered by Greek authorities. In June, the government was working on a 15% cryptocurrency tax plan, which also included an exemption covering the first €500 in annual profits.

The rate was subsequently lowered during the legislative preparation process. By October, the consultation version maintained the €500 exemption but established a 10% tax on eligible gains. Reuters reported on Oct. 8 that the government intended to present the legislation to parliament the following month.

Earlier discussions also addressed the tax treatment of cryptocurrency mining. Under the June proposal, mining carried out independently by individuals was expected to remain outside the capital gains tax regime, whereas operations conducted through registered companies would be subject to taxation.

The parliamentary approval followed a public consultation launched by the Finance Ministry, which was scheduled to conclude on Oct. 22. The ministry had initially targeted the first week of November for the parliamentary vote, in line with the eventual approval date.

How Greece's New Crypto Tax Framework Calculates Investment Gains

The Finance Ministry's consultation document outlined several rules governing the calculation and reporting of cryptocurrency profits.

One important distinction concerns transactions between digital assets. Exchanging one cryptocurrency for another will not, by itself, trigger capital gains taxation under the proposed framework.

For taxable disposals, profits are generally determined by subtracting the acquisition cost from the transfer or sale value. Where an investor has accumulated the same cryptocurrency through multiple purchases, the calculation uses the average acquisition price.

The legislation also introduces a voluntary disclosure period lasting 12 months from the law's publication. During this window, investors can declare gains generated through previous transfers without incurring penalties or interest, provided they meet the applicable conditions. Additionally, cryptocurrency sales will not be subject to the Digital Transaction Fee.

Greek tax publication Forin provided further details about the legislation submitted to parliament in October. It noted that making a voluntary declaration would not automatically confirm that the original funds used to acquire the digital assets had been obtained legitimately.

The legislation also reportedly removes cryptocurrency transfers from the presumption that repeated transactions necessarily amount to commercial activity. However, the cost of acquiring digital assets would be considered an expenditure on asset purchases when authorities examine the declared origin of funds.

Tax Treatment of Crypto Payments, Inheritance, Staking and Lending

The framework addresses other forms of cryptocurrency-related income beyond investment profits.

According to Forin, digital assets distributed to employees, business partners or shareholders will be valued according to their market price at the time they are received. For inheritance and gift taxation, the applicable valuation will be based on prices listed on recognized cryptocurrency platforms on the preceding day.

Meanwhile, the Finance Ministry's explanation distinguishes investment gains from income generated through cryptocurrency-related financial activities. Returns earned from lending digital assets, providing liquidity or participating in staking arrangements are classified as interest income and subject to a separate 15% tax rate.

This distinction establishes different tax treatments depending on how investors generate returns. Profits resulting from the disposal of digital assets fall under the 10% capital gains regime, while earnings from lending, liquidity provision and staking are treated as interest.

How Greece's Crypto Tax Rules Differ From the US Approach

Greece's framework adopts a different approach from the United States, where the Internal Revenue Service classifies digital assets as property for federal tax purposes.

Under IRS guidance, exchanging one cryptocurrency for another is considered a reportable transaction. Digital assets held for investment or personal purposes can generate a capital gain or loss when sold or otherwise disposed of.

The treatment changes when cryptocurrency is received in exchange for goods or services through business activities, as the proceeds are generally recognized as ordinary income or loss.

US taxpayers must also maintain detailed records of their digital asset transactions, including purchase and disposal dates, transaction values in US dollars and the cost basis used to determine taxable gains or losses.

Unlike Greece's exemption for annual cryptocurrency gains of up to €500, the US framework applies its existing property taxation rules to digital asset transactions without an equivalent general annual exemption.

EU DAC8 Rules Introduce Broader Cryptocurrency Tax Reporting Requirements

Greece's new tax legislation arrives alongside the European Union's broader efforts to improve oversight of cryptocurrency transactions through its DAC8 directive.

The reporting requirements took effect on Jan. 1, 2026, obliging cryptocurrency service providers covered by the directive to collect information about transactions conducted by EU residents. The collected data must be submitted to national tax authorities, which can subsequently exchange relevant information with the jurisdictions where investors are tax residents.

DAC8 applies to both domestic and cross-border transactions and covers a broad range of digital assets. Its scope includes decentralized cryptocurrencies, stablecoins, electronic money tokens and certain non-fungible tokens.

According to the European Commission, the reporting framework encompasses taxpayer identification details and aggregated transaction values associated with cryptocurrency acquisitions, disposals and transfers. The directive is aligned with the OECD's Crypto-Asset Reporting Framework, establishing a common approach to exchanging tax-related information internationally.

The first information exchanges between EU member states will cover transactions conducted throughout 2026, with national authorities required to complete the initial exchange by Sept. 30, 2027.

Greece's Crypto Tax Framework Could Improve Visibility Into a Difficult-to-Monitor Market

Greece's decision to introduce a dedicated cryptocurrency tax regime reflects a broader shift toward integrating digital asset activity into conventional tax systems. However, the effectiveness of the 10% levy will depend less on its headline rate than on the authorities' ability to identify taxable transactions and verify investors' declarations.

The widespread use of overseas trading platforms presents a particular challenge, as domestic tax authorities cannot rely exclusively on locally registered intermediaries to monitor investment activity. In this respect, the implementation of DAC8 could become an important complement to Greece's national framework by improving access to transaction information across EU jurisdictions.

The distinction between capital gains and returns generated through staking, lending and liquidity provision also suggests that Greece is moving toward a more activity-based approach to cryptocurrency taxation. This could provide greater clarity for investors and businesses, although further implementation guidance will be necessary to address complex transactions and cross-border operations.

Ultimately, the combination of a relatively low tax rate, a voluntary disclosure mechanism and expanded reporting requirements could encourage compliance, provided that the rules remain sufficiently clear and practical to apply.