Greece to Implement 10% Capital Gains Tax on Cryptocurrency
- Greece plans to impose a 10% capital gains tax (CGT) on cryptocurrency, as per a draft bill.
- Annual gains of up to 500 euros (approximately $560) will be exempt from this tax.
- The bill is set for submission to parliament in November.
- This tax rate is among the lower rates in the EU, compared to over 25% in countries like Germany and France.
- Estimates of Greece’s cryptocurrency market size are challenging due to reliance on foreign platforms.
As countries adapt their tax frameworks for cryptocurrencies to align with traditional assets, Greece’s proposed legal framework reflects this trend. The anticipated revenue from this new tax has not yet been projected by Greek officials.
With the introduction of a 10% capital gains tax, Greece aims to regulate its growing cryptocurrency sector while maintaining competitive rates compared to other EU nations like Germany and France.(Source)
