Europe has another country that’s “getting its books in order.”
On November 5, the Greek parliament passed a bill imposing a 10% tax on individuals’ capital gains from crypto assets, effective January 1, 2027. This is Greece’s first comprehensive crypto tax framework (Reuters, CoinDesk, Kathimerini).
A few key points:
- Net gains of up to €500 per year are tax-free; once that limit is exceeded, all gains are taxed at 10%, not just the amount above the threshold.
- Selling crypto for fiat is taxable, and using crypto to buy goods or services is also considered a taxable event.
- Income from staking, lending, and DeFi liquidity is treated as interest and taxed at 15%.
- Annual losses exceeding €500 can be carried forward for 5 years to offset future gains.
- There is a 12-month window after the law is published to declare past gains, with no penalties or interest.
One detail is worth watching: the Finance Ministry says crypto-to-crypto swaps (for example, $ETH for $BTC) are not taxable events, but the Parliament’s Scientific Service warns that the bill’s wording could cover these transactions too. The implementing rules are reportedly due in the coming weeks; that’s when we’ll know for sure.
Another fairly candid admission: officials say they can’t estimate revenue because the vast majority of Greek investors use foreign platforms. The rules come first; figuring out how to enforce them is the next step.
At 10%, the rate is relatively favorable by European standards (rates range from roughly 8% to 30% across countries). For users, the tax rate isn’t daunting; the real cost may lie in filing and record-keeping.
This is not investment advice.