Greece has published a draft bill that would impose a 10% capital-gains tax on cryptocurrency profits while exempting annual gains of up to €500, and plans to submit the legislation to parliament in November. The bill is currently open to public consultation and has not yet been enacted into law.

Reuters reported that Greek officials have not provided a revenue estimate for the measure, partly because many Greek investors use overseas trading platforms, making the size of the domestic market difficult to measure.

The headline rate is simple enough to understand. Applying it correctly may not be. A capital-gains tax needs rules covering the purchase price, sale price, trading fees and losses before an investor can work out the taxable result — and much of that detail remains undefined.

What the Draft Proposal Establishes

• A 10% tax rate for cryptocurrency capital gains
• An annual exemption for gains up to €500
• A planned submission to parliament in November

What the Final Law Still Needs to Explain

• How the €500 exemption applies once profits exceed it
• How investors calculate acquisition costs and losses
• Which crypto transactions create a taxable event

The €500 Exemption Needs More Detail

The proposal says annual gains of up to €500 would be exempt, but the final legislation must clarify how that threshold works. One approach would tax only the profit above €500. Another would treat €500 as a cut-off, meaning that exceeding it could bring the entire gain into the tax calculation.

Under either reading, gains at or below €500 would remain untaxed; the open question affects only annual gains that go above the threshold.

The difference is material. Someone making a €600 gain could owe tax on €100 under the first approach, or face a calculation on the full €600 under the second. Greece has not yet published enough detail to tell taxpayers which method it intends to use.

The uncertainty extends beyond the €500 limit. The bill also needs to establish when a crypto gain exists in the first place.

The Rate Alone Cannot Tell Investors What They Owe

A straightforward sale of Bitcoin for euros is relatively easy to describe: the gain is generally the sale proceeds minus the cost of acquiring the asset, after any allowed expenses. Crypto activity often becomes more complicated before the euros ever reach a bank account.

The eventual law, or accompanying guidance, will need to address how Greece treats token-to-token trades, stablecoin conversions, staking rewards, airdrops and losses from earlier transactions. It also needs a method for calculating the cost basis of assets bought in several batches at different prices.

Until the final text explains how those transactions are handled, taxpayers cannot know whether a particular crypto action will create a taxable gain under the new framework.

European Reporting Rules Will Make the Data Trail Clearer

Greece's proposal arrives as the European Union begins implementing its crypto-asset reporting framework under DAC8. The rules require covered crypto-asset service providers to collect and report information about certain customers and transactions, with the first reporting period covering 2026 activity and reports due in 2027.

DAC8 gives tax authorities a standard route to receive information about reportable crypto transactions. For Greece, that channel is relevant because many Greek investors use overseas trading platforms — the factor Reuters cited the difficulty in measuring the size of the domestic market. The first reports, due in 2027, will cover the same period in which Greece's draft is in public consultation and slated for its November parliamentary submission.

Greece's proposed law would determine how that information feeds into a resident's tax calculation. The reporting rules and the tax bill therefore address different parts of the same compliance process.

For investors, that makes record-keeping more important even before the Greek bill becomes law. Keeping trade confirmations, euro values at the time of a transaction and fee records is often easier than reconstructing them after several years of activity across multiple platforms.

The 10% Rate Is Lower Than Greece's First Public Figure

Greek officials discussed a 15% crypto-gains tax with Reuters in June. The current consultation draft uses 10%, while retaining the €500 exemption mentioned in the earlier reporting.

The change makes the proposal less onerous on paper, but Greece has not explained why the rate was revised. It would also sit at the lower end of the range reported across several European jurisdictions, where crypto-gains taxes vary widely depending on holding periods, income brackets and local exemptions.

Investors Should Watch the Final Wording, Not Only the Headline Rate

For Greek residents, the immediate task is to follow the bill's progress rather than calculate a tax bill from its headline rate. The public consultation also leaves room for the draft's wording to be revised before the planned November submission, so the final text — not the current draft — is what will ultimately apply. The effective date, the treatment of the €500 threshold and the rules for gains and losses will decide how simple, or demanding, the eventual framework is in practice.

Until parliament passes a final version, the proposal is best read as an important step toward a dedicated crypto tax regime rather than a complete guide to what any individual investor will owe.

This article is for informational purposes only and does not constitute tax, legal or investment advice. Greek residents should consult a qualified tax professional before making decisions based on proposed legislation.