Greece’s parliament approved a sweeping cryptocurrency tax framework that imposes a 10% tax on capital gains and a separate 15% tax on income from staking, lending, and decentralized finance (DeFi), marking the nation’s initial comprehensive effort to tax digital assets.
Greece Officially Introduces New Cryptocurrency Tax Law
Passed on Thursday, Nov. 5, the legislation will take effect on Jan. 1, 2027, introducing updated reporting standards, tax exemptions, and provisions that permit investors to disclose past crypto gains without facing penalties.
Under the fresh guidelines, individuals must pay a 10% tax on annual net crypto profits that cross €500 (roughly $560). While earnings below this cap remain tax-free, passing the threshold means the total taxable profit is hit with the levy, rather than just the amount above €500.
The tax targets profits made when selling digital currencies for cash, along with purchases of goods and services paid for with crypto. Transferring crypto assets into a company’s capital is also classified as a taxable transaction under Article 48 of the bill.
Traders who rack up annual net crypto losses above €500 can roll those losses over for five years, balancing them against future digital asset capital gains.
The legislation also sets up a distinct tax model for crypto returns earned through staking, lending, and DeFi protocols. Article 47 classifies yields from crypto loans, liquidity pools, yield farming, and block validation as interest income, making them subject to Greece’s 15% rate.
If payouts land in crypto instead of cash, the taxable value is set using the asset’s euro price at the moment of the transaction.
Another key provision hands crypto investors a 12-month window to voluntarily disclose gains and eligible crypto income earned before the new rules kick in. Taxpayers taking advantage of this can bypass late-filing penalties and interest, as long as they clear the tax bill within 60 days of filing.
The legislation also outlines how inherited, gifted, or transferred crypto assets are handled, relying on recognized exchange prices to set their value. Additionally, crypto sales will skip Greece’s digital transaction tax altogether.
Questions still linger over whether swapping one coin for another triggers capital gains taxes. Although Greece’s Finance Ministry signaled that crypto-to-crypto trades won’t be taxed, the parliament’s legal advisors warned that the bill’s language might technically cover these exchanges.
Regulators are set to release extra guidelines soon to clear up how the rules will work in practice.
“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.
The official noted that officials cannot reliably project how much revenue the new taxes will bring in, as most Greek crypto investors trade on overseas platforms, leaving the local market hard to track.
These adjustments arrive as European nations build out contrasting approaches to crypto taxation. Even with the European Union pushing a tighter regulatory framework for digital assets, individual member states keep full control over setting their own tax policies.
Reuters reports that crypto tax rates across Europe span from roughly 8% to 30%, with the majority of countries zeroing in mainly on capital gains.
