Greece Passes 10% Crypto Gains Tax and 15% Levy on DeFi Income
Greece's parliament approved its first dedicated crypto tax framework on Nov. 5: 10% on capital gains, 15% on staking, lending and DeFi liquidity income, and a €500 annual exemption that disappears once crossed. The rules apply from Jan. 1, 2027.
Greece will tax individuals' crypto capital gains at 10% and income from staking, lending and DeFi liquidity provision at 15% under a framework its parliament approved on Nov. 5. The rules take effect Jan. 1, 2027.
The Hellenic Parliament's record of passed bills confirms passage of the bill, the country's first dedicated crypto tax framework.
Annual net gains of up to €500 are exempt. Once net gains exceed that threshold, the full gain is taxed, not just the portion above €500.
How gains are calculated
Gain is the difference between the acquisition price and the transfer price, not total sale proceeds, according to the Finance Ministry. An average acquisition price is used for successive purchases. Trading fees and related costs can factor into the calculation.
Taxable events include selling crypto for money, spending it on goods or services, and contributing it to a company's capital. Income from staking, crypto lending and DeFi liquidity provision is treated as interest income and taxed at 15%, per the Finance Ministry.
Annual losses above €500 can be carried forward for five years, but only against future crypto gains.
Crypto-to-crypto swaps
The Finance Ministry says swaps between crypto assets are not taxable. Parliament's Scientific Service, in its report on the bill, warned that the bill's wording could cover swaps and recommended an explicit exclusion.
The Scientific Service also noted that existing Greek rules did not generally subject crypto capital gains to personal income tax.
Back-declarations and implementation
Taxpayers get a 12-month window to declare past crypto gains without late-filing fines or interest, subject to conditions. Tax is payable within 60 days of declaration. From 2027, crypto purchases are also pulled into Greece's source-of-funds checks.
The approved bill awaits publication in the Government Gazette. Documentation and record-keeping rules are delegated to a decision by the head of the Independent Authority for Public Revenue. A senior finance ministry official told Reuters that more guidance is coming:
"Further implementation directives will be published in the coming weeks, which will also define transparency and audit rules"
Senior finance ministry official, speaking to Reuters
The official added that revenue cannot be projected because most investors use foreign platforms.
Context
An earlier draft circulated in October floated a 15% rate. The passed version is five points lower and keeps the €500 exemption. Blockchain Academics previously covered the proposal in Greece Proposes 10% Crypto Capital Gains Tax With €500 Annual Exemption.
Elsewhere in Europe, the Netherlands is moving toward a realized gains tax from 2028, while Germany and Portugal exempt crypto held for more than a year. EU DAC8 reporting rules have applied since January.
