Greek parliament approves 10% tax on cryptocurrency gains
- Cryptocurrency capital gains of up to €500 ($563) per year
Greece has approved a 10% capital gains tax on cryptocurrencies, becoming the first EU country to establish a comprehensive legal framework for crypto taxation, with exemptions for small gains.
- Exemptions for crypto capital gains up to €500 annually.
- Upcoming directives for transparency and audit rules.
- Varying crypto taxation across EU countries.
ATHENS: Greece’s parliament approved on Thursday a bill that imposes a 10% capital gains tax on cryptocurrencies, the first comprehensive legal framework for taxing crypto assets in Greece.
Cryptocurrency capital gains of up to €500 ($563) per year will be exempt from the new tax, the bill says.
“Further implementation directives will be published in the coming weeks, which will also define transparency and audit rules,” a senior finance ministry official told Reuters.
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European Union countries do not have a unified taxation system for the sector.
Taxation on cryptocurrencies varies from 8% to 30% among European countries and it is usually imposed on capital gains.
The state revenue from the new tax could not be projected, the official said, as the vast majority of investors use platforms abroad, making the size of Greece’s cryptocurrency market hard to measure.