Greece drafts a 10% crypto tax, near the bottom of Europe’s rate ladder

Greece’s draft crypto tax bill, published for public consultation this week, would set a 10% levy on individuals’ cryptocurrency capital gains, placing the country near the bottom of the European Union’s rate ladder if parliament approves it in November.

The Ministry of National Economy and Finance proposed the rate in a draft bill that exempts annual gains of up to €500 (about $560) and is due for a parliamentary vote in the first week of November, after the consultation closes on October 22. The rate is lower than the 15% two government officials floated in June, and one outlet still reports the higher figure, so the final number rests with the bill’s text.

At 10%, Greece would sit below most of the bloc. France taxes individual crypto gains at a flat 30%, Italy raised its rate from 26% to 33% this year, Ireland charges 33%, Austria takes 27.5% and Spain treats crypto as savings income at up to 28%. Germany’s Federal Ministry of Finance issued a draft in September to subject crypto trading profits to the standard 25% flat-rate tax starting in 2028.

Only Cyprus, with its 8% flat tax introduced in January, would sit lower. Germany and Portugal offer a different model: gains on crypto held more than 12 months and 365 days respectively are exempt.

Under the draft, the tax would apply to the net gain on a sale after trading fees, and only when holdings are converted to fiat or spent. Crypto-to-crypto swaps would not trigger it. Losses above €500 could be carried forward for up to five years against future crypto gains, but not against other income.

The bill would let taxpayers voluntarily declare previously realized gains without penalties within 12 months of the law’s publication, with 60 days to pay. Crypto sales would also be exempt from Greece’s Digital Transaction Fee from December 1, 2026.

The bill would be Greece’s first framework of its kind for taxing crypto. Officials say the market’s size is hard to estimate because most Greek investors use platforms based outside the country, and they have made no revenue projections.