Greece Proposes 10% Crypto Capital Gains Tax Plan in Draft

Greece unveils draft: 10% tax on crypto capital gains with €500 exemption

Greece has released a draft bill proposing a 10% capital gains tax on cryptocurrency profits, shielding the first €500 of annual gains from taxation. The measure — published for public consultation — is slated for parliamentary consideration in November. The draft lowers a previously reported 15% proposal while retaining the €500 exemption, but it leaves key implementation details unclear.

Key points of the draft legislation

The draft proposal sets out a straightforward headline: cryptocurrency capital gains above €500 per year would be taxed at 10%. However, the bill summary released for consultation does not yet define important technical aspects, including how losses will be treated, whether intra-ecosystem transfers between wallets are taxable, and the valuation method for crypto transactions.

What the draft specifies

• Tax rate: 10% on taxable crypto capital gains above the annual exemption.
• Annual exemption: first €500 of gains are exempt each year.
• Legislative status: draft published for public consultation, expected to be tabled in parliament in November.

What remains unclear

• Loss offsetting and deductibility rules are unspecified.
• Tax treatment of transfers between personal wallets or to custodial solutions is not defined.
• Methods for valuing cryptocurrency transactions for tax purposes are absent from the draft summary.

Background: shift from 15% to 10%

Earlier reports indicated Greek authorities were preparing a 15% capital gains tax with a €500 exemption. The updated draft reduces the headline tax to 10% while keeping the exemption intact. The government has not provided an explanation for the rate change, nor has it released revenue estimates tied to the proposal.

Why revenue estimates are missing

Greek officials say it is difficult to quantify domestic crypto activity because many Greek investors trade on platforms based outside Greece. Cross-border trading and foreign-based exchanges complicate efforts to measure the size of the retail and institutional crypto markets and to estimate anticipated tax receipts.

EU reporting rules (DAC8) and how they intersect with Greece’s move

The timing of Greece’s draft coincides with the first reporting year of the European Union’s Directive on Administrative Cooperation 8 (DAC8), which took effect on January 1, 2026. DAC8 requires qualifying cryptocurrency service providers to collect and report customer and transaction data — including identities, tax identification numbers and certain transfers involving external wallets — to tax authorities.

DAC8 key dates and scope

• Reporting year: 2026 (data to be exchanged between tax authorities in 2027).
• Covered entities: crypto exchanges and other qualifying service providers serving EU residents.
• Reported data: account holder identities, transaction records and certain cross-wallet transfers.

DAC8 creates a stronger information exchange framework, but it does not harmonize tax rates. EU member states retain control over tax rates, taxable events, and how they treat cryptocurrencies for capital gains purposes.

Comparative context: how other countries are approaching crypto tax

Across Europe, national approaches to crypto taxation vary widely. Proposed and enacted rates range roughly from single digits up to around 30% in some jurisdictions, typically focused on capital gains. For example:

France and legal challenges

France has already implemented DAC8 reporting obligations and faced legal challenges from crypto firms over data security and centralization concerns. Courts have so far allowed reporting to continue while some annulment cases proceed through the legal system.

Spain's stance on self-custody

Spain recently clarified that cryptocurrencies held in self-custody do not automatically fall under certain foreign asset reporting forms when investors retain private keys. However, assets held via foreign custodians or qualifying service providers can still trigger reporting obligations under national rules and DAC8.

United Kingdom disclosure levels

The UK has seen substantial declared crypto gains in recent tax years. HM Revenue & Customs reported that thousands of taxpayers declared billions in crypto capital gains, with dozens of individuals reporting seven-figure gains. The UK is preparing to receive additional data under international reporting arrangements.

Implications for Greek crypto investors and service providers

If implemented, the Greek proposal would create a clear taxable framework for crypto capital gains where none existed comprehensively before. Investors, exchanges and custodians serving Greek residents should prepare for:

Record keeping and tax reporting

• Detailed trade and wallet records will be essential to calculate realized gains, document exemptions and support loss claims if deductible rules are introduced.
• Cross-border platform users should be aware of DAC8 reporting and potential information sharing between jurisdictions.

Compliance and tax planning

• Investors may review trading patterns to optimize use of the €500 exemption, mindful that the draft does not indicate whether the exemption is applied per taxpayer, per wallet, or per account.
• Professional tax advice will be increasingly important given open questions about valuation, transfers, and loss treatment.

Enforcement challenges and practical considerations

Enforcing a crypto capital gains tax in a cross-border trading environment is inherently challenging. Many investors use foreign exchanges, decentralized platforms or private wallets, complicating tracing and enforcement. DAC8’s reporting obligations should improve authorities’ visibility into some on-ramp and custodial activity, but gaps will remain for purely peer-to-peer or self-custodied transactions where no qualifying service provider is involved.

Next steps and timeline

The draft is currently open for public consultation. Following the consultation period, the government intends to submit the bill to the Greek parliament in November. Lawmakers will debate and potentially amend the proposal before voting. Stakeholders — including exchanges, crypto businesses and tax professionals — are likely to engage in the consultation, seeking clarity on operational details and compliance mechanics.

Practical advice for investors

Until the law is finalized, crypto investors in Greece should take pragmatic steps to prepare:

• Preserve full transaction histories, timestamps, and fiat valuations for trades and transfers.
• Separate business trading activity from private investing where relevant, and consult a tax professional about likely classification.
• Monitor DAC8-related communications from crypto service providers and national tax authorities.

Conclusion

Greece’s draft 10% crypto capital gains tax with a €500 exemption marks a significant step toward integrating digital assets into the country’s tax code. While it provides a clear headline rate and a modest annual exemption, the proposal leaves several crucial implementation questions unanswered. With DAC8 in force and cross-border crypto reporting expanding, Greek investors and service providers should prepare for increased scrutiny and tighter record-keeping obligations as the bill moves toward parliamentary debate in November.