Greece Plans Crypto Capital Gains Tax: Report

AI summary of the source article

Greece's Finance Ministry has drafted a bill establishing the country's first legal framework for taxing cryptocurrency capital gains at a 15% rate. Under the proposal, the first €500 in gains annually would be exempt, and only net gains converted into fiat or used to purchase goods and services would be taxed, excluding crypto-to-crypto swaps. Investors could carry forward losses for up to five tax years, while staking and lending rewards would face taxation only upon sale. Due for submission to parliament in November, the rules would apply retroactively from January 1, 2025.

Why it matters

The draft bill establishes Greece's first formal crypto taxation framework as the country aligns with EU regulatory regimes like MiCA and the DAC8 reporting directive.

Key facts

• Greece's draft bill proposes a 15% capital gains tax on crypto conversions to fiat or payments, with an annual €500 exemption.
• Crypto-to-crypto swaps would not trigger tax liabilities, and trading losses could be carried forward for up to five years.
• The legislation is set to be submitted to parliament in November and would apply retroactively from January 1, 2025.