By the end of July, the Ministry of Finance is expected to submit a new bill to the Hellenic Parliament introducing Greece’s first comprehensive tax and transfer framework for cryptocurrencies. The legislation proposes a 15% capital gains tax on profits from crypto asset sales, an annual tax-free threshold of €500, and specific provisions covering inheritances, gifts, and parental contributions.
Retrospective Application from 2025
The new rules will apply retroactively from 1 January 2025. This allows investors who acquired cryptocurrencies in previous years to declare and legitimise past gains through a dedicated tax mechanism — effectively offering a pathway to formalise previously unreported crypto income.
Filling a Regulatory Gap
Until now, crypto transactions in Greece operated without a defined tax regime, creating uncertainty for both investors and tax authorities. The absence of clear rules meant capital gains from crypto sales could not be systematically taxed, while also complicating ‘source-of-funds’ (Πόθεν Έσχες) checks and hindering the use of crypto-derived capital for acquiring other assets — such as real estate. For example, someone with €200,000 in undeclared crypto gains could not legally use those funds to purchase property.
Tax Treatment Aligned with Traditional Investments
Under the new framework, crypto gains will be treated similarly to those from stocks and bonds — falling under the existing capital gains tax regime. The 15% rate applies to the difference between the acquisition price and sale price of a crypto asset, net of directly related transaction costs (e.g., exchange fees or network charges).
Simplification Measures
To reduce administrative burden, the bill includes an annual tax exemption for total crypto gains up to €500. No tax filing or payment is required if annual profits remain within this limit.
Importantly, exchanging one cryptocurrency for another — such as swapping Bitcoin for Ethereum — will not trigger a taxable event. Tax liability arises only when crypto is converted into fiat currency (e.g., euros) or used to purchase goods and services. This ensures taxation aligns with actual liquidity events — i.e., when value is realised in the real economy.
Loss Carry-Forward and Inheritance Rules
If a sale results in a loss, that loss won’t be lost. It can be carried forward for up to five tax years and offset exclusively against future crypto-related capital gains.
For the first time, cryptocurrencies are explicitly included in Greece’s inheritance, gift, and parental contribution tax regimes. In such cases, the acquisition value for tax purposes will be based on either the value used to calculate inheritance or gift tax, or the value applied when claiming a tax exemption.