Greece Seeks 10% Tax on Digital-Asset Capital Gains, Exempting Up to 500 Euros a Year
Summary
- The Greek government said it had released a draft bill that would apply a 10% tax rate to capital gains from digital assets.
- The bill would also exempt from taxation annual capital gains of 500 euros or less from digital assets.
- The Greek government has not yet provided estimates for the digital-asset market size or projected tax revenue under the proposal.
Greece is moving to impose a 10% tax on capital gains from digital assets.
Reuters reported on October 8 that the Greek government had released a draft bill that would apply a 10% tax rate to digital-asset capital gains and opened it for public comment.
The bill also exempts annual capital gains of up to 500 euros ($576) from taxation. The Greek government plans to submit the legislation to parliament in November.
Greece currently lacks a comprehensive legal framework for taxing digital assets. The European Union also has no unified tax standard in this area. Across Europe, tax rates on digital assets generally range from 8% to 30%.
The Greek government said it is difficult to gauge the size of the domestic digital-asset market because most investors use offshore trading platforms. It has not yet provided an estimate of tax revenue under the proposal.
Uk Jin
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