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The government intends to include cryptocurrencies in the tax code; the first 500 euros of profits will be exempt from tax...
Greece is preparing legislation to impose a 15% tax on capital gains from cryptocurrencies, Reuters reported, citing two government officials with knowledge of the plan.
According to Reuters, Greece currently does not have a complete legal framework for the taxation of cryptocurrencies, while European Union countries do not implement a unified tax system for this sector.
"The goal is to include cryptocurrencies in the country's tax code," one of the officials stated.
Tax rates on cryptocurrency profits in European countries range from 8% in Cyprus to 30% in France and are usually applied to capital gains.
A second official confirmed the government's plan and explained that the first 500 euros of earnings will be exempt from tax.
The tax will not apply to individuals engaged in cryptocurrency mining, but will be applied when the activity is carried out by entities registered as companies.
Both officials stressed that it is difficult to estimate the size of the cryptocurrency market in Greece, as the vast majority of investors use platforms outside the country. For now, the government has not published concrete projections for the budget revenues that the new tax could generate.
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