No legal framework for crypto
How are cryptocurrency profits taxed in Greece? Is there a tax framework that covers those who buy and sell cryptocurrencies?
There are no clear answers to these questions, for want of a legal framework for cryptocurrencies. It is a gray area for which, not only in Greece but also in Europe, the authorities have not managed to establish any rules. Even if they are decided, it will probably be several years before the EU member-states adopt them.
Market executives say the authorities are currently focusing on combating money laundering and not in setting general rules on cryptocurrencies and officially considering them an investment product.
Bitcoin, for example, according to the European Court of Justice, is a means of payment, which means its purchase and sale is not subject to value-added tax at the supply level. At the same time, the Greek tax system has no law or provision that defines the way of taxing crypto and specifically the profit from their sale.
Profits or capital gains could be taxed at a rate of 15% (capital gains tax). This interpretation given by large accounting firms is not established anywhere; however, it is recommended so that crypto holders do not at some point find themselves exposed to tax authorities.
