By the end of July, the new bill of the National Economy and Finance Ministry is expected to be submitted to Parliament, which for the first time sets comprehensive rules for the taxation and transfer of cryptocurrencies in Greece.
The plan provides for taxation of capital gains at a rate of 15%, a tax-free profit limit of up to €500 per year, as well as a clear framework for inheritances, donations and parental benefits.
The new provisions will be applied retroactively from January 1, 2025, allowing investors who acquired cryptocurrencies in previous years to declare and legalize their profits through a specific tax mechanism.
With the new framework, the government is attempting to fill a significant gap in the tax treatment of crypto-assets. Until now, cryptocurrency transactions have remained essentially outside of a specific tax law, which has created uncertainty for both investors and tax authorities.
The lack of an institutional framework did not allow for the imposition of a tax on capital gains from cryptocurrency sales, while at the same time creating difficulties in controlling the “source of the proceeds” and in utilizing the specific funds to acquire other assets.
