The article was authored by Alexandra Karadima,Senior Associate & Tasos Koletsas, Associate on November 13, 2026
On 5 November 2026, the Hellenic Parliament passed legislation introducing a dedicated tax framework for crypto-assets. The measures address a longstanding area of uncertainty by establishing rules for individual investors, transaction documentation and gains realised in previous years.
The Legislative Gap in the Taxation of Crypto-Assets
Until the introduction of the new tax framework, Greek income tax legislation did not regulate income from crypto-assets. This legislative gap created considerable uncertainty for individuals. Due to absence of tax framework, such gains could not necessarily be recognised for the purposes of covering deemed living expenses or expenditure on the acquisition of assets. Consequently, taxpayers could face income tax under the deemed income rules, at progressive rates of up to 44.
This uncertainty was reflected in the decisions of the Greek Directorate for Dispute Resolution (DED). In particular, Decision 1330/2024 confirmed that capital gains from the disposal of cryptocurrencies did not fall within the scope of Article 42 of Greek Income Tax Code, which govern capital gains from the transfer of securities. The tax authorities also rejected the recognition of such gains for the purposes of covering deemed expenditure, even where taxpayers had sought to report them in their income tax returns. The new legislative framework seeks to address this inconsistency.
Capital gains: a 10% tax rate
A new Article 42B is introduced into the Greek Income Tax Code (Law 4172/2013), establishing rules for capital gains realised by individuals on the disposal of crypto-assets. For the purposes of the Greek Income Tax Code, crypto-assets are treated as intangible assets. The definition of crypto-assets is aligned with that set out in Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA). However, the scope of the new tax provisions is not confined to crypto-assets falling within the regulatory scope of MiCA and also extends to crypto-assets and activities in the decentralised finance (DeFi) ecosystem that fall outside its scope.
Following the new tax framework, capital gains realised by individuals on disposals of crypto-assets are subject to a 10% tax rate. Taxable disposals include (i) the exchange of crypto-assets for fiat currencies (e.g., euro, dollars, etc.), (ii) the use of crypto-assets for the acquisition of goods or services, (iii) contributions of crypto-assets to subscribe or increase corporate share capital, (iv) and every disposal of crypto-assets for consideration. By contrast, a crypto-to-crypto exchange payment is not considered a taxable disposal for Greek tax purposes, following the French example.
Taxable capital gains are calculated as the difference between the disposal price and the acquisition price of the crypto-assets, after accounting for any directly attributable transaction expenses. Where crypto-assets of the same type have been acquired through multiple transactions at different prices, the acquisition price is determined using the weighted average cost method.
Both the acquisition price and the disposal price must be supported by transaction records issued by crypto-asset service providers or other intermediaries maintaining records of the relevant transactions. Alternatively, they may be established on the basis of information directly retrievable from the distributed ledger. Where the acquisition price cannot be adequately substantiated, it is deemed to be zero for tax purposes, potentially resulting in the taxation of the entire disposal price. Accordingly, maintaining reliable transaction records is essential for accurately determining taxable gains and substantiating acquisition prices.
Annual net capital gains of up to €500 are exempt from taxation. However, this exemption operates as a threshold rather than a tax-free allowance, meaning that where annual net gains exceed €500, the entire amount is subject to tax. Similarly, where annual net losses exceed €500, they may be carried forward for up to five years and offset exclusively against future capital gains arising from the disposal of crypto-assets.
Furthermore, Article 21(3) of the Greek Income Tax Code is amended to exclude crypto-asset transactions from the statutory presumption of systematic business activity, extending to crypto-assets the treatment already applicable to certain securities, including listed shares and bonds. Under this presumption, three transactions of similar nature carried out within a six-month period are generally deemed to constitute systematic activity. Accordingly, the frequency of crypto-asset disposals does not, in itself, trigger their classification as business income.
Read more here: Newsletter_Crypto-assets-1