The Greek government has introduced a draft bill proposing a 10% tax on capital gains from cryptocurrency transactions. This initiative marks the country's first attempt to establish a comprehensive legal framework for digital asset taxation. Under the current proposal, annual gains of up to €500 will remain tax-exempt.
The newly proposed 10% rate represents a reduction from the 15% figure previously discussed by government officials in June. At that time, authorities indicated that individual crypto mining activities would remain untaxed, while corporate mining operations would be subject to taxation. Officials noted that estimating the total size of the local crypto market remains challenging due to the prevalence of foreign trading platforms.
The tax landscape across the European Union remains fragmented, with member states applying diverse approaches. Cyprus currently imposes a flat 8% tax, whereas Ireland applies a 33% rate. Italy recently increased its tax rate to 33%, and Spain utilizes a progressive scale reaching up to 28%. Germany offers exemptions for assets held longer than a year, while the Netherlands taxes presumed returns.
Since January 1, the European Union has implemented the DAC8 directive, which mandates that crypto service providers report transaction data for EU residents. This information is shared among national tax authorities to ensure compliance. Meanwhile, outside the EU, the United Kingdom has announced plans to defer capital gains tax on decentralized finance lending and liquidity pool deposits.
