Greece plans 10% crypto profit tax with €500 annual exemption

The Greek Ministry of National Economy and Finance has proposed a 10% tax on profits from crypto transfers, with net annual gains of up to €500 exempt from tax.

The draft legislation, now open for public consultation, would treat the acquisition cost as zero if taxpayers cannot prove how much they paid for the crypto, potentially resulting in tax being charged on the full sale proceeds. Purchase documents from crypto providers and intermediaries, along with blockchain transaction data, would be accepted to establish the acquisition cost.

Net gains of up to €500 would be tax-free, according to the draft bill. The €500 exemption would apply only when total annual net profits remain below the threshold. Losses above €500 could be carried forward for up to five years and offset against future crypto transfer gains, but not against other forms of income.

Using crypto to purchase goods or services would also be considered a taxable transfer under the proposed rules. Income from lending, liquidity provision and staking would be treated as interest instead of capital gains.

Crypto purchases would count as asset-acquisition costs for tax purposes, meaning taxpayers would need to demonstrate the source of funds even if they continue holding the assets. The proposed provisions are scheduled to apply from Jan. 1, 2027.

The bill would also allow taxpayers to voluntarily declare crypto gains made before the new rules take effect.

Taxpayers would have 12 months to make the declaration and 60 days to pay the 10% tax, with penalties and interest waived if the tax is paid on time. While the declared profits could be used to cover tax presumptions, the original capital used to purchase the crypto would not be recognized for that purpose.

The draft would also exempt crypto sales from the Digital Transaction Fee starting Dec. 1, 2026.

Beyond crypto taxation, the bill includes mandatory electronic payments for courier cash-on-delivery orders and new protections and procedures for borrowers dealing with banks and servicers, including limits on advance payments, deadlines for responses, free debt information and automatic debt recalculations.

Public consultation closes Oct. 22, and the government plans to seek parliamentary approval in the first week of November.