Greece Plans to Impose 10% Tax on Cryptocurrency Capital Gains, Exempting Annual Gains Under €500

BlockBeats news, October 8, according to Reuters, Greece is preparing legislation to impose a 10% tax on cryptocurrency capital gains. The relevant draft bill was published on Thursday evening local time and has entered the public consultation stage. The bill is expected to be submitted to parliament for review in November.

According to the draft, individuals' annual cryptocurrency capital gains up to €500 (approximately $559.95) may be exempt from the new tax. Greece currently has no complete tax legal framework for cryptocurrencies, and EU member states also lack a unified system for cryptocurrency taxation.

At present, European countries have significant differences in the taxation methods and rates for cryptocurrencies, with capital gains tax rates ranging from about 8% to 30%, usually levied on capital gains generated from the sale of crypto assets.

Greek officials said that because the vast majority of investors use overseas platforms, it is difficult to accurately estimate the scale of the country's cryptocurrency market. The government has also not yet made specific forecasts for the fiscal revenue that the new tax could bring.