Crypto tax

A 10% tax, a €500 exemption, 15% on staking: what each investor actually pays under Greece’s new law, in eight examples.

The 10% rate is the headline, but the €500 threshold and which transactions are taxed deserve a second look.

Past crypto gains in Greece get a proposed reporting procedure, but paying the tax doesn’t settle every open issue.

From 2026, crypto transactions become part of automatic tax reporting, but the data Greece’s tax authority (AADE) receives is one thing and the tax you owe is another.

Cryptocurrencies and ETFs often end up in the same portfolio, but in Greece they are taxed under completely different rules. For crypto, Greece has finally got a dedicated law, passed on November 5, 2026. For ETFs, the provisions for securities and mutual funds apply. In this guide we put the two side by side, so you know what you pay in each case. Crypto: the new law From January 1, 2027, crypto gains are taxed at 10%, with a tax-free allowance of up to €500 in net gains a year. Until now, without a specific provision, the prevailing view was that the 15% capital gains tax of Article 42 of the Income Tax Code (KFE) applied. The key rules: Taxable: selling for euros, paying for goods or services with crypto, and contributing crypto to a company. Not taxable: holding crypto, or swapping one crypto for another or for a stablecoin. The cost basis is the average acquisition price of each coin, including fees. If it can’t be proven, it is treated as zero. The tax-free amount is a threshold, not a deduction: with a €501 gain, the whole amount is taxed. Staking and lending are taxed like interest, at 15%. A net loss above €500 can be carried forward for the next 5 years, only against crypto gains. For sales before 2027 there is a voluntary declaration at 10%, with no penalties, within 12 months of the law taking effect. All the details, with examples, are in our guide to crypto taxation. Example Bitcoin purchase (2025)€10,000 Bitcoin sale (2027)€15,000 Gain€5,000 Tax under the new law (10%)€500 Under the old 15% approach€750 The same €5,000 gain from a sale in 2026 is not taxed under the new rules. It can, however, be declared voluntarily at 10%, so that it can be used to justify your deemed-income presumptions (“tekmiria”). With crypto, the tax comes when you cash out to euros. Until then, whatever you swap between coins, you owe nothing. Bitcoin ETFs and ETNs Products that track the price of bitcoin and trade on stock exchanges (ETFs in the US, ETNs and ETPs in Europe) are not crypto-assets. They are financial instruments, so their gains don’t follow the new crypto law but the securities rules described below. The treatment depends on the product’s structure and its country, so it’s a good idea to check with an accountant before you buy. ETFs: the rules ETFs are funds that trade on the stock exchange like shares. They offer cheap diversification across entire markets, such as the 500 largest US companies. But diversification depends on what the ETFs hold, not on their names: in a comparison of 35 popular ETF pairs, SPY, VOO and IVV share more than 99.6% of their holdings. Gains from selling Most ETFs bought by European investors are UCITS, i.e. European mutual funds. Capital gains from selling mutual fund units are exempt from tax under Article 103 of Law 4099/2012, and the prevailing view is that this also covers UCITS ETFs. That doesn’t mean they go undeclared: the sale proceeds are entered on your tax return and help justify purchases and deemed-income presumptions. For non-EU ETFs, such as US ones, the picture is less clear. Their treatment depends on each product’s legal form, so an accountant needs to check it. Besides, most European brokers don’t sell them to retail investors, because of the investor disclosure rules (PRIIPs). Dividends ETFs that pay out dividends (distributing) are taxed in Greece at 5%, like dividends from shares. If tax has already been withheld abroad, it is credited up to the amount of the Greek tax, under the double taxation treaties. ETFs that reinvest dividends (accumulating) don’t pay you a dividend, so there is no tax until you sell. Crypto and ETFs side by side CryptoUCITS ETFs Gains from selling10% from 2027, tax-free up to €500Exempt, according to the prevailing view IncomeStaking, lending: 15%Dividends: 5% LossesAbove €500, for 5 years, only against cryptoIrrelevant, since gains are exempt Reporting to the tax authorityDAC8, from 2026 transactionsCRS, already in force The tax return The Greek tax authority receives data on both. Foreign banks and brokers have been reporting accounts and income through the CRS for years. EU crypto exchanges report transactions from 2026, under the DAC8 directive. The first submission is due by September 30, 2027. For crypto, the new codes on Form E1 haven’t been released yet. They will be set by a decision of AADE (Greece’s Independent Authority for Public Revenue), and we’ll update this guide as soon as they are published. Until then: Keep the statements from every exchange and every broker, for all years. Calculate the average acquisition price for each cryptocurrency. Note the dividends from your ETFs and the tax withheld abroad. Ask an accountant about anything that isn’t UCITS or about crypto sales before 2027. For crypto, the free crypto tax calculator works out the average acquisition price, the gain and the tax for each year from your transactions. This guide was updated on November 7, 2026, after the crypto law was passed, and is not tax advice. For your tax return, consult an accountant. Sources Taxheaven. “The new crypto taxation framework in the bill submitted to Parliament” (in Greek). Accessed November 7, 2026. ot.gr. “Parliament approves a 10% tax on crypto gains” (in Greek). November 5, 2026. Taxheaven. “Income Tax Code (Law 4172/2013)” (in Greek). Taxheaven. “Law 4099/2012, Article 103” (in Greek). Independent Authority for Public Revenue (AADE). “Double taxation treaties”.

For years Greece had no rules at all for cryptocurrency. Accountants and investors borrowed the provisions for stocks, and everyone reached a different conclusion. That ended on November 5, 2026, when the Greek Parliament passed the first law that explicitly mentions crypto-assets. Here you'll find what applies, from when, how your gain is calculated and what to do about sales made before the law. From January 1, 2027: 10% on the year's net gain, tax-free up to €500, 15% on staking rewards. Holding crypto and swapping crypto for crypto are not taxed. The law at a glance Effective fromSales from January 1, 2027. The first tax return under the new rules is filed in 2028 Tax rate10% on the year's net gain Tax-free allowanceUp to €500 of net gain per year. If you exceed it, the whole gain is taxed, from the first euro When tax is dueWhen you sell for euros, when you pay for goods or services with crypto, when you contribute crypto to a company What isn't taxedHolding, a rise in value and swapping one crypto for another (including for a stablecoin) Cost basisThe average acquisition cost of each coin, including fees. If you can't prove it, it is taken to be zero Staking, lendingTaxed like interest, at 15%, on their value when you receive them Deemed-income presumptions (“tekmiria”)Buying crypto counts as an expense for the tekmiria. From a sale, only the gain covers tekmiria, not the original capital LossesA net loss above €500 is carried forward for 5 years, only against crypto gains Before 2027Voluntary disclosure at 10% (15% for staking), with no penalties, within 12 months of the law taking effect What changed compared to before Until now there was no specific provision. The prevailing view was that a crypto gain is a capital gain from the transfer of capital under Article 42 of the Greek Income Tax Code (KFE) and is taxed at 15%. Many people declared nothing, because no one knew for sure whether and how they had to. The solidarity contribution, which used to add an extra charge, was abolished in 2023. The new law adds a specific article on crypto-assets to the Income Tax Code (42B) and sets a 10% rate in Article 43. The rate is lower than the old one. But there is now a clear obligation, and the tax office will get your data from the exchanges, as we explain below. How the gain is calculated The taxable gain on each sale is the sale price minus the cost of the coins you sold. The cost is worked out with the average acquisition cost: you add up everything you paid for a coin, including fees, and divide it by the quantity you bought. Example. You buy 1 ETH for €2,000 and later another 1 ETH for €3,000. Your average acquisition cost is €2,500 per ETH. In 2027 you sell 1 ETH for €4,000. Your gain is €1,500 and the tax is €150. The ETH you have left keeps a cost of €2,500 for your next sale. At the end of the year you add up gains and losses from all coins and all platforms. If the net result is up to €500, you pay nothing. If it is €501, you pay €50.10, because the tax-free allowance is not a deduction but a threshold: above it, the whole gain is taxed. Special cases Crypto-to-crypto swaps and stablecoins When you trade BTC for ETH or USDC, you aren't taxed at that moment. The cost basis carries over to the new coin, and the tax comes when you finally sell for euros. This also applies to stablecoins: converting USDC to euros is a sale. Paying with crypto If you pay for a laptop with ETH, the law treats it as if you sold the ETH for the laptop's value. The difference from their cost is a gain. Staking, lending, DeFi Rewards from staking, from lending crypto and from providing liquidity or earning yield on decentralized protocols (DeFi) are taxed like interest, at 15%, on their euro value at the moment you receive them. That same value becomes their cost basis. If you later sell them for more, the difference is taxed at 10% like any other sale. Mining For an individual who isn't running a business, mined coins have a cost basis of zero. When they are sold, their entire value counts as gain. Anyone who mines as a business is taxed under the rules for businesses. Companies Nothing substantial changes for legal entities. Crypto gains are part of their business profit and are taxed at the corporate tax rate. Losses If a year ends with a net loss above €500, you carry it forward for the next 5 years and offset it against future crypto gains. It can't be offset against salary, rental income or stock gains. To keep it, you must declare it in the year it occurred. Deemed-income presumptions (“tekmiria”) From 2027, buying cryptocurrency counts among asset acquisition expenses, like buying a car or a property. The money you put in must be covered by declared income. When you sell, only the gain covers tekmiria. The part of the amount that is a return of your original capital can't justify new purchases or expenses. Inheritances, gifts, parental gifts From January 1, 2027, cryptocurrency passed on by inheritance, gift or parental gift is subject to the corresponding tax. The value on which that tax was calculated (or an exemption was granted) becomes the cost basis for the person receiving it. Crypto sales are also exempt from the Digital Transaction Fee, retroactively from December 1, 2024. Sales before 2027 The law doesn't apply the new rules retroactively. It does, however, offer an opportunity to those who sold at a gain in previous years and didn't declare it: voluntary disclosure. It must be made within 12 months of the law taking effect. Gains are taxed at 10% and staking rewards at 15%. The tax is paid within 60 days, with no penalties or surcharges. The declared gain justifies tekmiria, for example buying a house or a car with crypto money. The original capital you had invested doesn't count. The text of the provision doesn't mention a €500 tax-free allowance for this disclosure. If you have gains from past sales, it's a good idea to discuss with an accountant whether it works in your favor. The tax office will have the data From 2026, EU exchanges record their customers' transactions and send them to the tax authorities under the European DAC8 directive. The first submission, covering 2026 transactions, is due by September 30, 2027. AADE (Greece's Independent Authority for Public Revenue) will know what you bought and what you sold, so your tax return must match that data. MiCA-licensed platforms, like those in our exchange comparison, provide the detailed statements you will need. What we don't know yet The law's number and Government Gazette (FEK) issue. The law has been passed but not yet published. The Form E1 codes. The old codes many people used (capital gains from securities) don't fit the new regime. New ones will be issued by an AADE decision. The voluntary disclosure procedure. Where and how it is filed will be set by a decision. We'll update this article as soon as they are out. What to do now Download your transaction statements from every exchange you've used, for all years. Without proof, your cost basis is taken to be zero. Calculate the average acquisition cost of each coin you hold. Keep records of your staking: the date and value of each reward. If you sold at a gain before 2027, consider voluntary disclosure. Watch the €500 threshold before the end of each year. Calculate your tax With the free crypto tax calculator, you enter your purchases, sales and staking and see the average acquisition cost, the gain and the tax for each year, along with the losses carried forward. For ETFs and other investment products, see our guide to taxation of crypto and ETFs. Frequently asked questions Do I pay tax if I just hold crypto? No. Neither holding nor a rise in price is taxed. Tax applies when you sell for euros or pay with crypto. Do I have to declare the crypto I bought? The money you spend on purchases counts toward that year's tekmiria, like any asset purchase, so it must be justified by declared income. The exact codes for crypto-assets will be set by an AADE decision. Does it apply to exchanges outside Greece? Yes. The tax applies to Greek tax residents, wherever the transaction took place. Is the €500 tax-free allowance per coin? No. It applies to the year's total net gain from all cryptocurrencies and all platforms. This article explains the law as passed on November 5, 2026, and is not tax advice. For your tax return, consult an accountant. Sources Taxheaven. “The new crypto tax framework in the bill submitted to Parliament” (in Greek). Accessed November 7, 2026. ot.gr. “Parliament approves a 10% tax on crypto gains” (in Greek). November 5, 2026. ot.gr. “Cryptocurrencies: a 10% tax on gains and new checks – what changes for investors” (in Greek). November 6, 2026. skai.gr. “Parliament: 10% tax on crypto gains approved” (in Greek). November 2026. Taxheaven. “Income Tax Code (Law 4172/2013)” (in Greek).