Greek parliament approves 10% tax on cryptocurrency gains
ATHENS: Greece’s parliament approved on Thursday a bill that imposes a 10% capital gains tax on cryptocurrencies, the first comprehensive legal framework for taxing crypto assets in Greece. Cryptocurrency capital gains of up to €500 ($563) per year will be exempt from the new tax, the bill says. “Further implementation directives will be published in the coming weeks, which will also define…
ATHENS - Greece's parliament has passed legislation imposing a 10% capital gains tax on cryptocurrencies, marking the country's first comprehensive legal framework for taxing crypto assets. The new law exempts cryptocurrency capital gains up to €500 ($563) per year from the tax.
Further implementation details, including transparency and audit rules, are expected to be published within the coming weeks, according to a senior finance ministry official interviewed by Reuters. Binance reported that customers withdrew a net total of $4.7 billion after a recent hack, underscoring the risks faced within the crypto world.
It should be noted that European Union countries lack a unified taxation system for the crypto sector, with tax rates ranging from 8% to 30% among member states. The official handling the legislation declined to project the state revenue from the new tax, as most investors employ platforms located abroad, making it challenging to gauge the size of Greece's cryptocurrency market.
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