Greece’s parliament approved the country’s first comprehensive legal framework for taxing cryptocurrency assets on November 5, 2026. The law imposes a 10% capital gains tax on crypto transactions, with a €500 annual exemption, taking effect January 1, 2027.
The final rate represents a reduction from an earlier October draft that proposed 15%. The difference reflects negotiations during the legislative process, lowering the tax burden by 5 percentage points.
Tax Mechanics and Scope
The tax applies to net gains, calculated as the difference between acquisition price and transfer price. Trading fees and transaction costs are deductible. Once net gains exceed €500 in a calendar year, the 10% rate applies to the full annual net gain, not only amounts above the threshold.
Taxable events include selling cryptocurrency for euros, using crypto to purchase goods or services, and contributing crypto to company capital. Holding bitcoin while its euro value rises does not trigger a tax liability. Crypto-to-crypto swaps are treated as non-taxable events under the framework.
Losses exceeding €500 may be carried forward up to five years and offset only against future cryptocurrency capital gains, not other income.
Implementation and Compliance
A senior finance ministry official told Reuters that “further implementation directives will be published in the coming weeks, which will also define transparency and audit rules.” The official did not specify the content of those rules at the time of approval.
Starting in 2027, purchases of cryptocurrency assets will be subject to existing “source of funds” checks, requiring investors to document the origin of money used to buy digital assets. The finance ministry did not specify enforcement mechanisms for obtaining cost-basis data from offshore cryptocurrency platforms, where most Greek investors currently hold assets.
EU Context
Greece’s 10% rate sits at the lower end of European Union cryptocurrency taxation. EU member states do not share a unified crypto tax system. Capital gains rates typically range from 8% to 30% across the bloc. Cyprus levies 8%, while France imposes 30%.
The timing aligns with the EU’s DAC8 reporting rules, effective January 2027, which require cryptocurrency platforms to transmit user and transaction data to national tax authorities, enabling tax enforcement across member states.
Greece’s finance ministry did not project state revenue from the new tax, citing difficulty measuring the size of the country’s cryptocurrency market. Most Greek investors use foreign platforms, making market estimates unreliable.
