The government’s latest proposal, released for public consultation on Wednesday, significantly undercuts the 15% rate previously floated by the finance ministry in June. Under the new rules, the exchange of one digital asset for another will not trigger a taxable event. However, earnings derived from more complex financial activities, such as lending and liquidity provision, will be classified as interest and taxed at the same 10% rate.
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Greece Proposes Competitive 10% Crypto Tax Rate
Greece has unveiled draft legislation imposing a 10% capital gains tax on cryptocurrency earnings, positioning the country as a favorable jurisdiction for digital asset investors compared to its European neighbors. The proposed framework, which exempts the first 500 euros of profit, marks a shift from earlier, more aggressive tax discussions.
This move places Greece in a distinct position relative to other major European economies. Investors in France and Italy currently face capital gains levies of 30% and 33%, respectively, while Spain utilizes a progressive system reaching up to 28%. Germany links its crypto tax rates to individual income tax thresholds, which can often result in higher effective burdens. The Greek administration plans to introduce the bill to parliament during the first week of November.
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