Greece Proposes 10% Tax on Crypto Gains in Draft Bill

Greece has moved its crypto‑tax plans from speculation to concrete policy. On 7 October the Ministry of National Economy and Finance released a draft bill that would levy a 10 % tax on any gains individuals realise from crypto‑assets, with a €500 exemption for the first part of the annual profit. The proposal is now under public consultation and is slated for parliamentary debate in the first week of November, with a likely implementation in the 2027 tax year.

The proposal fills a gap that has long existed in Greek tax law. Until now, the country had no specific provisions for crypto‑assets, leaving investors and tax authorities uncertain about how to treat gains, losses, or income such as staking rewards. The draft’s Article 277 to 289 amends the Income Tax Code to recognise crypto‑assets as taxable property, defining a taxable transfer as a sale for money, a payment for goods or services, or a contribution to a company’s capital. The draft explicitly excludes a swap of one crypto‑asset for another from creating a taxable gain.

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Under the new framework, the gain is calculated as the difference between the acquisition price and the transfer price. When a person bought a crypto‑asset at different times, the draft applies an average acquisition price. If the acquisition price cannot be established, it is treated as zero. The tax is set at 10 % on the net gain for the year, but gains up to €500 are exempt. Losses exceeding €500 can be deducted over the next five years, but only against crypto gains. Staking income, which is treated as interest, is also taxed at 10 %, matching the capital‑gain rate. These rules mirror Greece’s existing 15 % interest tax, but the 10 % rate for crypto gains is lower than the 15 % rate that applies to certain securities.

Because many Greek investors use exchanges based outside the country, the government has not produced a revenue forecast. In a June interview with Reuters, officials said that the size of Greece’s crypto market is difficult to estimate precisely. The draft therefore does not outline any expected revenue or how the tax might influence market behaviour.

The bill also touches on tax residency regimes. Greece has a non‑dom regime that obligates residents to pay €100,000 a year regardless of foreign income, and a pensioner regime that applies a 7 % rate to foreign‑source income. The draft does not mention these regimes in its crypto provisions, nor does it alter Article 5 of the Income Tax Code, which defines where income arises. For individuals moving their tax residence to Greece, the tax on crypto gains would still be governed by the general rules, but the draft does not clarify how the exemption or loss‑carry‑forward would interact with those regimes.

Beyond the domestic framework, Greece is also adjusting to European reporting requirements. The European Union’s DAC8 mandate, which will require crypto‑service providers to exchange transaction data with tax authorities from 2026 onwards, is a separate compliance layer that does not set a harmonised tax rate. The Greek proposal simply adds a domestic rate that will coexist with DAC8 reporting.

The Greek proposal is visibly more modest than many of its neighbours, reflecting a cautious approach to a market that is still largely unregulated domestically. Earlier in June, Greek officials had hinted at a 15 % rate, but the current draft cuts that to 10 %.

In terms of practical impact, the exemption will likely leave many casual traders untouched. A single trade that yields less than €500 in profit would fall outside the tax net, and even a series of modest gains would be shielded if the cumulative net gain remains below the threshold. Those who realise larger profits will see a 10 % deduction applied to the net gain after losses. The ability to carry forward losses for five years offers a modest relief for those who experience volatility, but the rule also limits the extent of offsetting that can be achieved.

Because the bill is still in consultation, the final text could adjust the exemption, the rate, or the definition of taxable events.

• Consultation deadline: 22 October 2026 – feedback from industry groups and the public will be incorporated into the final draft.
• Parliamentary debate: early November 2026 – a vote will determine whether the bill becomes law.
• Implementation date: likely the 2027 tax year, unless the government accelerates the start of the new rules.
• Revenue estimates: no figures have been released; analysts will likely publish projections once the law is adopted.

For Greek residents, the draft highlights the importance of accurate record‑keeping for crypto transactions. The average acquisition price rule means that investors will need to maintain detailed purchase records to compute gains correctly. Those who have been using foreign exchanges will also need to be prepared for potential reporting obligations under DAC8, which will require crypto‑service providers to share transaction data with Greek tax authorities from 2026 onwards.