Greece has released a draft bill to impose a 10 percent capital gains tax on cryptocurrency profits. Cointelegraph reported on Oct. 8 local time that this is the first time Greece has set out a taxation framework for digital assets.
The draft applies a 10 percent capital gains tax to cryptocurrency, but it would not tax annual gains that do not exceed 500 euros.
Greece presented both taxation standards and the scope of exemptions for cryptocurrency in the draft released on Wednesday. It would levy no tax on annual gains of up to 500 euros and apply a 10 percent rate to capital gains above that threshold.
The focus of the draft is not the tax rate itself but the first institutionalisation of cryptocurrency taxation standards. Greece set out both taxable and exempt thresholds, laying out the basic framework for a digital asset tax system.
Hyunwoo Choo
cookinpapa@d-today.co.kr