A new bill submitted to the Greek Parliament introduces, for the first time, clear rules for the taxation of cryptocurrencies in Greece. The main provisions apply from tax years beginning on 1 January 2027. At the same time, a transitional voluntary disclosure procedure is available for transactions made up to 31 December 2026.
In this article we explain what changes for individuals: which transactions are taxed, at what rate, how capital gains are calculated, and what options exist for those who have not reported past crypto transactions.
What counts as a "crypto-asset"
The law defines a crypto-asset as any digital representation of value or rights that can be transferred and stored electronically using distributed ledger technology (blockchain) or similar technology. The definition covers Bitcoin, Ethereum and other cryptocurrencies, as well as tokens and stablecoins.
Which transactions are taxed
Under the new Article 42B of the Income Tax Code, a taxable transfer includes:
- exchanging a crypto-asset for fiat currency (e.g. selling Bitcoin for euros);
- using a crypto-asset to purchase goods or services;
- contributing a crypto-asset to a company's share capital.
Not taxed: exchanging one crypto-asset for another (e.g. converting BTC to ETH). This means swaps between cryptocurrencies do not create a tax obligation.
Tax rate: 10%
Capital gains from the transfer of crypto-assets are taxed at a flat rate of 10%. This is lower than the 15% rate that applies to capital gains from other assets (shares, bonds, etc.).
The tax is calculated on the net gain: transfer price minus acquisition cost.
Tax-free threshold: €500
If the net capital gain for the year does not exceed €500, no tax is due. If it exceeds €500, the entire amount is taxed — not just the portion above €500.
Conversely, if losses exceed €500, they can be carried forward and offset only against future crypto-asset gains for the next 5 tax years. Crypto losses cannot be used to reduce other income.
How capital gains are calculated
- Acquisition cost: documented through supporting records (exchange statements, bank transfers) or entries on the distributed ledger (blockchain).
- Transfer price: the value in euros at the time of the transaction.
- Successive purchases: the weighted average cost method applies.
- Mining: the acquisition cost is deemed to be zero — the full value at the time of transfer is treated as capital gain.
Staking, lending, yield farming — taxed as interest
Returns from crypto lending, yield farming and staking are not treated as capital gains but as interest (Articles 37 and 40 of the Income Tax Code). They are taxed at 15%.
Important: the value of crypto-assets acquired through staking or lending — and taxed as interest — becomes the acquisition cost for a future sale. This means that when you later sell your staking rewards, the capital gain is calculated from the already-taxed value, avoiding double taxation.
Payment in crypto-assets
If an employee or freelancer receives remuneration in crypto-assets, it is treated as a benefit in kind and taxed as employment income or business income, respectively.
Inheritance and gifts
Crypto-assets are treated as intangible movable property located abroad. Valuation is based on the value on the day before the tax obligation arises (date of death or gift). The heir or recipient acquires an acquisition cost equal to the taxed value.
Voluntary disclosure of past transactions
The bill includes a transitional provision (Article 49) for those who carried out crypto-asset transactions up to 31 December 2026 without reporting them:
- Deadline: 12 months from the date the law enters into force.
- Tax payment: within 60 days of filing the disclosure.
- Benefit: no penalties or late-payment interest, provided payment is made on time.
This provision gives crypto holders the opportunity to settle past obligations without additional sanctions before the new regime takes full effect.
Indirect taxes — exemptions
- Crypto-asset sales are exempt from the Digital Transaction Fee (retroactively from 1 December 2024).
- Sales up to 30 November 2024 are exempt from stamp duty (retroactively from 1 January 2021).
Supervision — measures against unlicensed providers
The same bill empowers the Hellenic Capital Market Commission to take measures against unlicensed crypto-service providers, including website blocking. The aim is to protect investors.
Summary table
- Crypto capital gains: 10% (tax-free if net gain ≤ €500/year)
- Staking / lending / yield farming: 15% (as interest)
- Crypto-to-crypto exchange: not taxed
- Mining: acquisition cost €0 — full value taxed on transfer
- Losses > €500: carried forward 5 years (only against crypto gains)
- Voluntary disclosure: 12 months, no penalties if paid within 60 days
- Effective date: tax years from 1 January 2027
How we help
We are an accounting firm in Thessaloniki offering consultations in English, Greek and Russian. We calculate capital gains from crypto-assets, prepare and file tax returns, and assist with the voluntary disclosure of past transactions. If you are unsure how the new framework affects you, we will explain your obligations in detail.
The first meeting is free. Send us a message on WhatsApp, Viber or Telegram, or book an appointment.
This article is for informational purposes only and is based on the bill as submitted to Parliament. Final provisions may change after the vote. For personalised advice, consult an accountant.