Greek Parliament Passes 10% Crypto Gains Tax With Penalty Relief Period

TL;DR

• Crypto Gains Tax Framework: Greece’s parliament approved a new cryptocurrency tax system that introduces a 10% levy on annual net gains above 500 euros.
• Investor Relief: The legislation allows investors with crypto losses above 500 euros to carry those losses forward for five years.
• Trade Treatment: Crypto-to-crypto swaps are intended to remain non-taxable according to the Finance Ministry.
  

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Greece has taken a major step toward regulating digital assets after parliament approved a new framework centered on Crypto Gains Tax rules for investors. The legislation introduces several tax measures for cryptocurrency activity and is designed to formally integrate the sector into the country’s tax system. Under the new framework, Crypto Gains Tax provisions will come into force on Jan. 1, 2027, alongside separate rules covering staking and decentralized finance income.

New Rules Define How Crypto Activity Will Be Taxed

The centerpiece of the legislation is the Crypto Gains Tax, which applies a 10% rate to annual net cryptocurrency gains exceeding 500 euros ($559). Once that threshold is crossed, the entire gain becomes taxable rather than only the portion above the limit. Lawmakers also expanded the scope of the Crypto Gains Tax beyond traditional sales. Investors who use digital assets to purchase goods or services may also trigger taxable events under the new framework.

In addition, the government established a separate 15% tax on income generated through staking, crypto lending, and liquidity provision activities on DeFi platforms. According to the Finance Ministry, these returns will be treated as interest income rather than capital gains.

Loss Carryforwards and Disclosure Window Included

Alongside the Crypto Gains Tax, the law introduces measures intended to provide flexibility for taxpayers. Investors who record annual crypto losses above 500 euros will be able to carry those losses forward for up to five years and use them to offset future gains. The legislation also creates a 12-month disclosure period tied to the Crypto Gains Tax framework.

During that window, eligible investors can declare previous cryptocurrency gains without facing late-filing fines or interest charges. Taxpayers who choose to participate in the relief program must complete their tax payments within 60 days of making a declaration.

Debate Continues Over Crypto-to-Crypto Swaps

The Finance Ministry stated that exchanging one cryptocurrency for another should not trigger the Crypto Gains Tax. That position could provide clarity for traders who frequently move between digital assets. However, questions remain. Parliament’s Scientific Service warned that the wording of the bill could be interpreted more broadly, creating uncertainty about whether some crypto-to-crypto transactions might still fall under Crypto Gains Tax provisions. As Greece prepares for implementation in 2027, market participants will likely watch closely for additional guidance on how the Crypto Gains Tax and related regulations will be applied in practice.