Crypto Tax in Greece: The Proposed 2026 Rules for Bitcoin and Other Crypto-Assets
Greece’s October 2026 draft bill introduces a dedicated framework for the taxation of crypto-assets, including a proposed 10% tax on capital gains realised by individuals. The provisions address acquisition costs, investment losses, historical gains and income from staking and lending, providing a more explicit statutory basis for their treatment.
TaxExperts has been publishing analysis on Bitcoin taxation since 2017. Its article “Taxation of capital gains from bitcoins”, published in June of that year, examined the application of existing tax provisions to Bitcoin investments, including the reporting of purchases, disposal proceeds and gains. Several of those issues are now addressed directly in the proposed legislation.
Under Articles 281 and 283, gains realised by individuals from the disposal of crypto-assets would be taxed at 10%. The taxable gain is calculated by reference to disposal proceeds and acquisition cost, taking account of directly attributable transaction expenses. An increase in the value of assets that remain unsold does not, by itself, trigger this tax.
Annual net gains of up to €500 would be exempt. As drafted, this is an exemption threshold rather than an annual deduction: where net gains exceed €500, the legislation does not provide for the first €500 to be subtracted. Losses exceeding €500 in a tax year may be carried forward for five years and offset exclusively against future gains from crypto-assets.
For successive purchases, the draft adopts an average acquisition cost. Supporting evidence may include records issued by service providers or intermediaries, as well as information obtained directly from the distributed ledger. This is relevant to investors whose transaction history extends across multiple exchanges and private wallets.
Where acquisition cost cannot be established, the draft treats it as zero. The resulting tax exposure may therefore differ substantially depending on the available documentation. For example, assets acquired for €80,000 and sold for €100,000 would ordinarily produce a €20,000 gain and €2,000 of tax, before transaction expenses. If the acquisition cost cannot be established, the taxable amount could become €100,000, resulting in €10,000 of tax.
The implementing decision envisaged under Article 281 will determine the documentation requirements and methods of verification. Its treatment of historical records will be particularly relevant where investors no longer have access to an exchange account or need to reconstruct transactions using several sources.
Article 279 expressly includes crypto purchases within Greece’s expenditure-based presumptive taxation rules, commonly known as “tekmiria”. The funds used to acquire crypto-assets would therefore need to be supported by recognised income or other available capital. Article 278 also excludes crypto transactions from the automatic rule under which three similar transactions within six months constitute systematic activity. This exclusion concerns that specific rule and does not amount to a general exemption for commercial crypto activity.
A separate procedure is proposed for historical gains. Article 282 allows individuals to declare gains from disposals preceding the regime’s commencement within a twelve-month window. Tax would be payable at 10% within sixty days of filing. Penalties and interest relating to the earlier failure to declare would not apply, provided the tax is paid within the prescribed deadline.
For the purposes of covering presumed expenditure, this procedure recognises only the declared gain. The original acquisition cost and the corresponding portion of disposal proceeds are expressly excluded. The distinction is relevant where proceeds from earlier crypto investments are intended to support subsequent asset purchases or other expenditure assessed under the Greek presumptive taxation rules.
Income from staking, crypto lending and participation in liquidity or yield arrangements in decentralised protocols receives separate treatment. Article 280 classifies these returns as interest, bringing them within the 15% interest tax regime for individuals. The value taxed as interest becomes the acquisition cost for calculating any gain on a subsequent disposal. This requires the initial return and the later disposal to be recorded separately.
The treatment of exchanges between crypto-assets remains an area requiring clarification. The draft expressly covers sales for money, payments for goods and services, and contributions to company capital. It also uses broader wording covering disposals for consideration, without expressly exempting crypto-to-crypto exchanges. On that wording, an exemption for token exchanges cannot be assumed.
As drafted, the main income-tax provisions would take effect upon publication in the Government Gazette. The legislation remains a proposal, and its application will depend on the enacted text and the subsequent implementing decisions.
For TaxExperts, the proposed framework represents a significant development in a field it has followed for almost a decade. Its practical impact will extend beyond the 10% rate to the recognition of acquisition costs, the treatment of historical proceeds and the reporting of different forms of crypto income. These provisions will form the basis for assessing individual investment histories as the framework is finalised.
Based on the October 2026 draft bill (https://opengov.gr/minfin/wp-content/uploads/sites/33/2026/10/Σχέδιο-Νόμου-Συλλογικές-Επενδύσεις.pdf), principally Articles 278–283 and 376. The provisions discussed are subject to enactment and possible amendment.
