Greece Approves 10% Crypto Tax, With Swap Treatment Unclear

Greece’s parliament approved a cryptocurrency tax framework on November 5, setting a 10% rate on annual gains above €500 and a separate 15% rate on specified crypto income. The main provisions are scheduled to take effect on January 1, 2027. The capital-gains tax applies to realized cryptocurrency profits, while annual gains up to €500 are exempt. Eligible losses may be carried forward for as many as five years to offset future gains, subject to statutory conditions. The framework distinguishes trading gains from returns on staking, lending and liquidity provision, which are classified as interest income and taxed at 15%. The treatment of direct crypto-to-crypto swaps remains an interpretive question. The Finance Ministry’s consultation framework said such exchanges would not create a taxable capital gain. But the Hellenic Parliament’s Scientific Service warned that broad wording on asset disposals could include cryptocurrency exchanges and recommended an explicit exemption, including clearer treatment of exchanges involving stablecoins. The supplied reporting does not establish a final administrative interpretation of the enacted language. The legislation also provides a...