Blab Crypto
Greece Introduces First Dedicated Crypto Tax Law: 15% Capital Gains Rate and 500 Tax-Free Threshold
According to reports, Greece’s National Economy and Finance Ministry is preparing to submit a new bill to Parliament by the end of July. The draft would establish the country’s first comprehensive framework for taxing and transferring cryptocurrencies.
The proposed legislation would impose a flat 15 % tax on capital gains derived from the sale of digital assets. A tax‑free threshold of €500 per year would apply, meaning that investors who realise less than that amount in gains would not owe tax. The bill also contains rules for inheritances, donations and parental benefits involving crypto‑assets.
The new provisions would be retroactive to 1 January 2025. This allows holders who acquired or sold cryptocurrencies in previous years to declare and regularise their profits under a specific tax mechanism.
Until now, Greece had no dedicated tax regime for crypto‑assets. Transactions were treated as outside any specific tax law, creating uncertainty for both investors and tax authorities. The absence of a framework meant that capital gains from crypto sales could not be taxed, and investors could not use such profits to purchase fixed assets such as property.
Under the draft, capital gains would be calculated as the difference between the purchase price and the sale price of a cryptocurrency, with directly related purchase or sale costs deducted. The tax treatment mirrors that applied to shares and bonds. For example, a €10 000 sale of Bitcoin that was bought for €7 000 would generate a €3 000 gain subject to the 15 % rate, after accounting for transaction fees.
The bill also clarifies that exchanging one cryptocurrency for another is not a taxable event. Converting Bitcoin to Ethereum, or vice versa, would not trigger a capital gains tax.
The Ministry of National Economy and Finance, which oversees Greece’s public finances, has been working on the draft since the ministry’s reorganisation in August 2023. The legislation is part of a broader effort to bring digital assets into the country’s formal fiscal system and to align Greece with European peers.
If adopted, the law would provide a clear legal basis for crypto‑asset holders to comply with tax obligations and for authorities to enforce them. It would also enable the state to collect revenue from a growing sector of the economy.
The bill’s retroactive application is intended to address the gap that has existed for several years. Investors who realised gains before 2025 will now have a defined pathway to declare those profits, potentially reducing the risk of future enforcement actions.
The proposed framework is the first of its kind in Greece. It is expected to be presented to Parliament in the coming weeks, after which it will undergo debate and possible amendments before a final vote.
The introduction of a dedicated crypto tax regime reflects a global trend toward clearer regulation of digital assets. By setting a flat 15 % rate and a modest tax‑free threshold, Greece positions itself competitively within the European market.
The bill’s passage would mark a significant milestone for the country’s crypto industry, providing certainty for investors, clarifying the tax status of digital assets, and enabling the state to capture revenue from a sector that has grown rapidly in recent years.
The proposed legislation would impose a flat 15 % tax on capital gains derived from the sale of digital assets. A tax‑free threshold of €500 per year would apply, meaning that investors who realise less than that amount in gains would not owe tax. The bill also contains rules for inheritances, donations and parental benefits involving crypto‑assets.
The new provisions would be retroactive to 1 January 2025. This allows holders who acquired or sold cryptocurrencies in previous years to declare and regularise their profits under a specific tax mechanism.
Until now, Greece had no dedicated tax regime for crypto‑assets. Transactions were treated as outside any specific tax law, creating uncertainty for both investors and tax authorities. The absence of a framework meant that capital gains from crypto sales could not be taxed, and investors could not use such profits to purchase fixed assets such as property.
Under the draft, capital gains would be calculated as the difference between the purchase price and the sale price of a cryptocurrency, with directly related purchase or sale costs deducted. The tax treatment mirrors that applied to shares and bonds. For example, a €10 000 sale of Bitcoin that was bought for €7 000 would generate a €3 000 gain subject to the 15 % rate, after accounting for transaction fees.
The bill also clarifies that exchanging one cryptocurrency for another is not a taxable event. Converting Bitcoin to Ethereum, or vice versa, would not trigger a capital gains tax.
The Ministry of National Economy and Finance, which oversees Greece’s public finances, has been working on the draft since the ministry’s reorganisation in August 2023. The legislation is part of a broader effort to bring digital assets into the country’s formal fiscal system and to align Greece with European peers.
If adopted, the law would provide a clear legal basis for crypto‑asset holders to comply with tax obligations and for authorities to enforce them. It would also enable the state to collect revenue from a growing sector of the economy.
The bill’s retroactive application is intended to address the gap that has existed for several years. Investors who realised gains before 2025 will now have a defined pathway to declare those profits, potentially reducing the risk of future enforcement actions.
The proposed framework is the first of its kind in Greece. It is expected to be presented to Parliament in the coming weeks, after which it will undergo debate and possible amendments before a final vote.
The introduction of a dedicated crypto tax regime reflects a global trend toward clearer regulation of digital assets. By setting a flat 15 % rate and a modest tax‑free threshold, Greece positions itself competitively within the European market.
The bill’s passage would mark a significant milestone for the country’s crypto industry, providing certainty for investors, clarifying the tax status of digital assets, and enabling the state to capture revenue from a sector that has grown rapidly in recent years.
