Greece proposes 10% tax on crypto

TLDR

Greece is moving to introduce a 10% tax on individual crypto gains under a newly published draft bill that is not yet law.

1. Greeces draft law would impose a 10% capital gains tax on crypto, exempting about $560 (roughly 500) of annual gains, with a 12-month amnesty for past undeclared profits.
2. The proposal taxes staking, lending and liquidity income at 10%, leaves crypto-to-crypto swaps untaxed, and sits at the low end of current European crypto tax rates.
3. Public consultation runs until late October and parliament will debate the bill in November, so details on losses, valuation and enforcement may still change.

Deep Dive

1. Key Terms Of The Proposal

Greeces Ministry of National Economy and Finance has published a draft bill that would introduce a 10% capital gains tax on individuals cryptocurrency profits, with the first roughly $560 in annual gains exempt, according to the ministry and reports such as the Cointelegraph summary.

Gains are generally calculated as sale price minus purchase price, using average acquisition cost when tokens are bought in multiple batches, and taxpayers must document their figures. Solo, noncorporate miners would not be taxed, while registered mining companies would be taxed under standard corporate rules. The bill also offers a 12-month window after it becomes law for people to declare past crypto gains without penalties or interest.

Importantly, this is still a draft. It has been released for consultation and is scheduled for submission to parliament in November, but it could be amended before any vote.

2. Scope, Mechanics And EU Context

The draft distinguishes between types of crypto activity. Swapping one cryptoasset for another would not trigger capital gains tax, but disposing into fiat or using crypto to buy goods or services would. Returns from staking, lending and liquidity provision are treated as interest income and taxed at the same 10% rate, as outlined in the draft bill coverage.

Compared with many EU peers, Greeces proposed 10% rate is relatively low. France applies about 30% on individual crypto gains, Italy has moved toward 33%, and some countries like Austria tax crypto gains above 25 percent, while a few, such as Cyprus, sit closer to Greeces level.

This move comes in the first reporting year of the EUs DAC8 framework, which requires crypto service providers to collect and share detailed transaction data with tax authorities. That means Greek residents who use foreign exchanges will likely face more transparency around disposals, even if enforcement details are still evolving.

3. Timeline, Uncertainty And Enforcement

Consultation on the bill runs until late October, with the finance ministry aiming for a parliamentary vote in early November. Until parliament passes and the president signs it, the 10% tax is a proposal, not an enforceable rule.

Key technical questions remain open in the draft, such as exactly how losses will be offset, how wallet transfers are treated, and how valuations are determined in volatile markets. Officials have also acknowledged that measuring the domestic crypto market is difficult because many Greek investors use offshore platforms, so revenue projections are absent.

Confidence: moderate - multiple official and media sources agree on the rate, exemption and timetable, but important implementation details remain undefined.

Conclusion

Greece is joining the wider European trend of formalizing crypto taxation, but it is doing so with a relatively modest 10% rate and a small annual exemption rather than punitive levels. For crypto users, the big shift is not just the rate itself, but the combination of clearer capital gains rules, yield income taxation and DAC8-driven reporting that will make offshore activity more visible to tax authorities.

The next meaningful updates will come from the final text that emerges from consultation and parliament. Watching how Greece resolves loss treatment, valuation rules and cross border enforcement will be crucial for anyone holding or transacting crypto while tax resident there.