Greece approves 10% tax on crypto gains and 15% levy on DeFi income
Greece approves 10% tax on crypto gains and 15% levy on DeFi income
Greece's parliament has approved a new tax framework for cryptocurrencies. It introduces a 10% tax on crypto capital gains and a separate 15% tax on income from staking and decentralized finance, known as DeFi.
DeFi means lending, borrowing, or providing crypto through online platforms without a traditional bank. The rules are set to take effect on January 1, 2027.
The framework aims to bring crypto investments into Greece's tax system.
Key numbers for individual investors
- Individuals will pay 10% on annual net crypto gains that exceed 500 euros ($559).
- Once that threshold is crossed, the full gain is taxable.
- The tax also applies when crypto is used to buy goods or services, not only when it is sold for cash.
- Returns from staking, crypto lending, and providing liquidity to DeFi platforms will be treated as interest income and taxed at 15%, according to the Finance Ministry.
How past gains and losses are handled
Investors with annual crypto losses exceeding 500 euros can carry those losses forward for five years to offset future crypto gains.
The law also gives investors a 12-month window to declare past crypto gains without late-filing fines or interest, subject to conditions. Tax payments must be made within 60 days of declaration.
Unclear point on crypto-to-crypto swaps
The Finance Ministry says swapping one cryptocurrency for another will not trigger tax. However, parliament's Scientific Service warned that the bill's wording could cover such trades.
CoinDesk report behind this article
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