Greece Proposes 10% Crypto Capital Gains Tax With 500 Euro Annual Exemption

Greece's Ministry of National Economy and Finance has published a draft bill proposing a 10% capital gains tax on cryptocurrency, a rate lower than the 15% the government floated as recently as June. The bill also exempts the first 500 euros, roughly $560, in annual gains and excludes crypto-to-crypto swaps from taxation. The legislation is expected to be submitted to parliament in November.

The proposed rate positions Greece toward the lower end of European crypto tax frameworks, which range from Cyprus's 8% to Italy's 33%. Germany and France both impose or plan to impose capital gains rates above 25% on crypto. Greek officials have not yet issued revenue projections from the tax, partly because most Greek crypto investors use platforms registered outside the country, making the size of the domestic market difficult to estimate.