Greece to Tax Cryptocurrency Gains at 10%, Down from 15% Proposal in June

Tax-Free Up to 500 Euros Annually, Exchanges Between Cryptocurrencies Also Exempt

The Greek government has proposed a new bill that applies a 10% tax rate on capital gains from cryptocurrencies.

This is a reduction from the previously suggested 15% tax rate in June, with the policy stating that profits up to 500 euros (approximately 88,600 yen) will be tax-free. The Greek Ministry of National Economy and Finance announced the new bill, which includes a taxation system for cryptocurrencies, on October 7, 2026 (Wednesday), and has begun soliciting public opinions. Until now, Greece has lacked a comprehensive taxation system for cryptocurrency profits, and this bill aims to fill the legal gap and enhance tax certainty.

The bill stipulates a 10% tax rate on capital gains obtained from the transfer of cryptocurrencies by individuals. Profits are generally calculated as the difference between the acquisition price and the transfer price, with profits up to 500 euros per year being tax-exempt.

Additionally, it specifies that capital gains from swaps between cryptocurrencies, such as exchanging Bitcoin (BTC) for Ethereum (ETH), will not be subject to taxation. There will also be separate regulations on how to manage the average acquisition price and transaction records for cryptocurrencies purchased in multiple transactions.

The 10% tax rate is a 5% reduction from the 15% tax proposal indicated by Greek government officials in June. While the tax-free allowance of 500 euros per year remains, the specific reasons for changing the tax rate have not been disclosed.

10% Tax on Staking Income, Bill to be Submitted to Parliament in November

Under the new tax system, not only will profits from cryptocurrency sales be taxed, but a 10% tax rate will also apply to income generated from staking, lending, and providing liquidity. These incomes will be treated as interest, and a valuation method based on the euro-denominated value at the time of acquisition will be established for cryptocurrencies received as in-kind benefits by employees and shareholders.

Furthermore, there will be no digital transaction fees on cryptocurrency sales, and within 12 months of the law's promulgation, individuals will be able to voluntarily declare profits from past transactions without penalties or interest under certain conditions.

Greek authorities have stated that it is difficult to accurately gauge the market size as many domestic investors use foreign exchanges, and they have not provided specific revenue forecasts from the new tax system.

In the EU (European Union), tax rates on cryptocurrencies vary by member state, with significant differences such as 8% in Cyprus and 33% in Italy. Meanwhile, the DAC8 (Administrative Cooperation Directive), which came into effect in January 2026, mandates cryptocurrency service providers to collect transaction information, with data for 2026 expected to be exchanged among tax authorities in 2027.

The Greek government is collecting opinions until October 22 (Thursday) and plans to submit the bill to parliament for a vote in the first week of November. As of now, it is still in draft form, and the 10% tax system has not yet been implemented.

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