Greece's parliament has approved a 10% tax on cryptocurrency gains, to take effect on Jan. 1, 2027, with investors earning annual net gains of up to 500 euros exempt from the levy.
Parliament passed the measure on Thursday as part of a broader bill covering loan oversight, debt protections and financial market regulation, local financial publication Oikonomikos Tachydromos reported Friday. The tax applies to profits from crypto asset sales, but investors whose annual gains do not exceed 500 euros ($560) are exempt.
The Ministry of National Economy and Finance first proposed the tax in October. Under the new framework, income from staking, crypto lending and providing liquidity to decentralized protocols will be taxed at 15%. Using crypto to buy goods or services may also trigger capital gains tax, while swapping one crypto asset for another does not generate taxable gains.
The legislation gives investors 12 months to voluntarily declare previously unreported crypto gains. They must pay the resulting tax within 60 days of filing to avoid penalties and interest.
Analysis
Why This Matters
- Greeks who sell cryptocurrency from 2027 will owe 10% on gains above a 500-euro annual exemption, directly affecting retail investors.
- The 15% tax on staking, lending and providing liquidity to decentralized protocols goes beyond simple trading and covers income from the broader crypto economy.
- The 12-month voluntary disclosure window gives investors with previously unreported gains a chance to regularize their position before enforcement begins.
Background
The Ministry of National Economy and Finance first proposed the tax in October, and parliament passed it as part of a broader bill covering loan oversight, debt protections and financial market regulation. The framework is scheduled to take effect on Jan. 1, 2027. Greece is also moving within the European Union's wider MiCA regime for regulating crypto assets, which has begun admitting its first entrants in the country.
What to Watch
- Whether the 500-euro exemption threshold and 10% rate are adjusted before the Jan. 1, 2027 start date.
- How many investors take up the 12-month voluntary disclosure window, and whether the 60-day payment requirement produces penalties.
- How the different treatment of token swaps and crypto purchases affects compliance for Greek exchanges and individual investors.