Greece plans 10% cryptocurrency capital gains tax

Greece is ​preparing legislation to impose ​a 10% ‌capital gains ​tax on cryptocurrencies, according to a draft bill published for ‌public consultation late on Thursday. There is no comprehensive legal framework for taxing cryptocurrencies in Greece, and European ‌Union countries do not have a unified taxation ‌system for the sector.

The draft bill says that cryptocurrency capital gains of up to €500 ($559.95) per year will be ⁠exempt ​from the ⁠new tax. The bill is due to be submitted to ⁠parliament in November. Taxation of cryptocurrencies among European ​countries varies from 8% to 30% and is usually ⁠imposed on capital gains.

Greek officials have said that ⁠it ​is very difficult to estimate the size of Greece's cryptocurrency market because the vast majority ⁠of investors use platforms outside the country. For the ⁠moment ⁠there isn't a specific projection for state revenue from the new tax. ($1 = 0.8929 ‌euros)