Greece Is Considering Taxing Cryptocurrency Profits
- Greece is considering classifying cryptocurrency profits as capital gains from securities sales and taxing them at 15%.
While some countries adopt a moderate approach to cryptocurrencies, some countries follow strict regulations. At this point, the latest news came from Greece.
Local news agency Ekathimerini reported in its recent report that a special committee will submit its report on cryptocurrencies and digital assets to the Ministry of National Economy and Finance by September.
According to the news, the special committee will propose a solution to the ministry to deal with cryptocurrencies and recommend that cryptocurrencies be included in the tax by January 2025.
The news stated that profits from crypto and digital asset trading will be taxed at 15% as capital gains from the sale of securities.
The news agency reported that due to the lack of legislation in Greece, profits from cryptocurrencies are currently “exploited” by investors, and “very few” declare profits from transactions of such currencies.
Sources close to the developments stated in the news that “Greece is considering classifying crypto profits as capital gains from securities sales and taxing them at 15%.”
According to the news, this legislation will be an important step towards regulating the crypto industry, which is experiencing exponential growth in the country.
Although the crypto tax system is not currently specified in the country’s Income Tax Law, after this report, it is stated that earnings from Bitcoin (BTC) transactions may be subject to income tax.
Greece has not fully and officially recognized cryptocurrencies.
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