Greece has adopted its first broad tax framework for income tied to virtual assets, establishing separate rates for capital gains and yield-based crypto activity. The measures were passed by parliament on Nov. 5 and are scheduled to take effect on Jan. 1, 2027.
Under the new rules, individual capital gains from virtual-asset investments will be taxed at 10%, while income from staking, crypto lending and providing liquidity to decentralized finance protocols will face a 15% rate. The law also sets a small annual profit threshold, loss carryforward rules and a temporary disclosure program for previously unreported gains.
Parliament approves first comprehensive framework
The legislation approved by the Greek parliament marks the country’s first comprehensive tax regime specifically covering virtual-asset income. It separates investment gains from other forms of crypto-related earnings and assigns different tax treatment to each category.
The main provisions will begin applying from the start of 2027, creating a defined framework for how individual investors and participants in crypto yield activities will be taxed going forward.
How the 10% capital gains tax will work
For individuals, annual net profit from virtual assets of 500 euros or less will not be taxed. If net profit goes beyond that level, however, the 10% rate applies to the full annual net profit rather than only the portion above 500 euros.
The taxable events go beyond simply selling crypto for fiat currency. The framework also treats the use of virtual assets to buy goods or services, as well as in-kind contributions of those assets to companies, as taxable transfers.
The bill also allows losses to be carried forward in some cases. If annual net losses from virtual-asset transfers exceed 500 euros, those losses may be carried forward for up to five years and used to offset future capital gains from such transfers.
Staking, lending and DeFi liquidity taxed as interest
Income earned from staking, crypto lending and the provision of liquidity to DeFi protocols will be taxed separately at 15%. Rather than being treated as capital gains, those returns will be classified as interest income under the new framework.
When that income is paid in virtual assets instead of cash, the taxable amount will be determined using the euro value of the assets at the time of the transaction. That establishes the basis for calculating tax on rewards received in kind.
Voluntary disclosure window opens for past gains
Alongside the new tax rules, the government will provide a 12-month voluntary disclosure period for previously undeclared investment gains and related income. The measure is designed to give taxpayers a route to report past crypto-linked earnings before the new framework is fully in force.
According to the bill, taxpayers who submit filings and make payment within 60 days may be eligible for waivers of late-filing penalties and interest, depending on the circumstances. The law does not present that relief as automatic, but as something available under specified conditions.
What comes next
The key confirmed next step is the start date for the regime’s main provisions: Jan. 1, 2027. Until then, the practical focus will be on the voluntary disclosure window and on how taxpayers classify virtual-asset activity under the categories set out in the new law.
The framework now provides formal rules for several common crypto activities, including investment disposals, spending virtual assets, company contributions, staking rewards, lending income and DeFi liquidity returns.
Source: en.bloomingbit.io