Greece Approves 10% Crypto Capital Gains Tax

Greece’s parliament has approved a new tax framework imposing a 10% levy on capital gains from crypto assets, closing a long-standing gap in the country’s treatment of digital investments. The measure establishes Greece’s first comprehensive framework specifically governing crypto taxation, with the core provisions scheduled to apply from January 1, 2027. Reuters reported the parliamentary approval on November 5, while the Hellenic Parliament’s legislative record lists the bill as approved but still awaiting publication in the Government Gazette.

Under the framework described by Greece’s Ministry of Economy and Finance, individuals will pay 10% on net gains from transferring crypto assets, while annual net gains of up to €500 are exempt. Gains are generally calculated from the difference between acquisition and transfer value, with documentation rules and average acquisition pricing applying when assets were purchased through multiple transactions.

Crypto Swaps Escape Immediate Capital Gains Tax

One of the framework’s more distinctive provisions is its treatment of token-to-token exchanges. Exchanging one crypto asset for another will not itself generate taxable capital gains, meaning a Bitcoin-to-Ether swap, for example, does not trigger the same tax treatment as disposing of crypto for fiat or using it in another taxable transfer. Unrealized appreciation while an asset remains in a wallet also does not independently create a capital-gains liability.

Losses receive their own treatment. Reporting on the approved framework indicates that losses above €500 can be carried forward for up to five years and offset specifically against future crypto capital gains. Taxpayers will also need adequate records establishing their acquisition cost, because an unsubstantiated purchase price can be treated as zero, substantially increasing the gain calculated for tax purposes.

The regime separates investment gains from yield-producing activities. Returns from crypto lending, liquidity provision and staking will be treated as interest income and taxed at 15%, according to the Finance Ministry’s latest description of the measure. Crypto received as employee, partner or shareholder compensation will also be valued in euros when acquired for tax purposes.

Past Gains Get a Disclosure Window

The legislation also creates a route for taxpayers to regularize previously undeclared crypto gains. Historical gains can be voluntarily disclosed during a 12-month window, with the resulting tax payable within 60 days of filing and penalties and interest waived when the applicable conditions are met. The 12-month period is tied to publication of the legislation, making the Government Gazette date relevant to the compliance timetable.

Crypto purchases will additionally enter Greece’s rules governing acquisition expenditures and imputed income. Investors may therefore need to demonstrate sufficient declared income or recognized capital sources to support amounts spent acquiring crypto, extending the framework beyond taxation of profits alone. The measure does not simply create a capital-gains rate; it brings crypto purchases and proceeds more directly into conventional tax documentation and audit processes.

The change comes as governments are simultaneously increasing visibility into crypto transactions. Australia is developing CARF-based crypto tax reporting rules, while Hong Kong has already passed its own CARF reporting legislation. France and Colombia have also expanded crypto-related tax reporting requirements. These reporting systems are distinct from Greece’s tax rates, but they reflect the broader shift toward making digital-asset activity more visible to tax authorities.

A senior Greek finance ministry official told Reuters that further implementation instructions covering transparency and audit procedures are expected in the coming weeks. The government has not published a revenue estimate because many Greek crypto investors use foreign platforms, making the domestic market difficult to quantify. The remaining implementation guidance will therefore determine how the new statutory rules translate into reporting and verification requirements when the tax regime begins in 2027.