Greece Drafts 10% Crypto Capital Gains Tax, a Lower Rate Than Officials Floated in June

Greece’s Ministry of National Economy and Finance put a draft bill out for public consultation on October 7 that would tax individuals’ cryptocurrency gains at 10%. Government officials had described a 15% rate to Reuters in June.

The first €500 of gains per tax year would go untaxed. Swapping one cryptocurrency for another would not create a taxable gain, and the draft imposes no digital transaction tax on crypto sales.

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Gains would be calculated as the difference between the purchase price and the sale price, with documentation rules and an average acquisition cost method for coins bought in several batches.

Income from lending, liquidity provision and staking would be taxed as interest at 10%. Crypto handed to employees, partners or shareholders as payment in kind would be valued in euros at the time they acquire it.

Taxpayers would also get a 12-month window after the law is published to declare gains from earlier sales with no penalty or interest, under conditions the bill sets out.

The crypto rules sit inside a wider bill whose main focus is private debt, including tighter supervision of loan servicers. The ministry says the tax provisions address a gap in how crypto is treated under Greek law.

The consultation closes at 10 a.m. on October 22, and the bill is due to go to parliament in November. Reuters reported that crypto tax rates across Europe range from 8% to 30% and are usually applied to capital gains.

Reuters also reported that officials cannot easily size the Greek crypto market, since most investors are on offshore platforms. No specific revenue projection for the tax exists yet.

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