Greece approves 10% crypto gains tax with €500 annual exemption

Greece’s parliament approved a 10% tax on cryptocurrency gains on Nov. 5, establishing the country’s first comprehensive crypto tax framework while exempting annual gains of up to €500. Summary Parliament approved a 10% capital gains tax, below the 15% rate initially discussed in June. Annual cryptocurrency gains of up to €500, approximately $563, will be exempt from the tax. The ministry’s consultation framework excluded crypto swaps and provided a window to declare past gains. Implementation guidance covering transparency and audit rules is expected in the coming weeks. According to Reuters, the legislation brings dedicated cryptocurrency tax rules into Greek law after months of preparation. A senior Finance Ministry official said further directives would follow, including rules governing transparency and tax audits. The government has not estimated how much revenue the measure will generate. Most Greek investors use platforms based abroad, the official said, leaving authorities without a reliable measure of the domestic cryptocurrency market. Greece’s crypto tax falls below the original proposal The approved rate is lower than the figure officials discussed earlier this year. In...