In Greece, profits made from cryptocurrencies are taxed in line with the Greek tax system regulations. Crypto taxes depend on whether a person is considered to be an individual or a company. For individuals, any crypto-related profits (including crypto trades) are subject to income tax at rates ranging from 22% to 45%.
There are no clear answers to these questions, for want of a legal framework in place. Due to the lack of clarity on the legal status of cryptocurrencies, investors and traders should consult with local tax advisors for more information about the taxation of cryptocurrency profits in Greece.
It is important to note that crypto-related financial transactions are subject to capital gains taxes, just like any other asset.
Market executives say the authorities are currently focusing on crypto activities that involve tax evasion and money laundering. The Greek government is also reportedly working on establishing an appropriate legal framework to facilitate the trading of cryptocurrencies, as well as its taxation in Greece.
At present, those who trade cryptocurrencies in Greece must understand their own tax obligations and ensure they stay compliant with the country’s laws.
Bitcoin, for example, according to the European Court of Justice , should be treated as a currency in the context of taxation and not as an asset. This means that Bitcoin profits are taxed according to regular income tax rules, just like any other profits made from trading or investments.
In conclusion, cryptocurrency profits are subject to taxation in Greece, although the exact regulations depend on whether you are considered an individual or a company.
At the same time, the Greek tax system is continuously evolving and becoming more transparent. It is important to consult with local tax advisors for the most up-to-date information regarding cryptocurrency taxation in Greece.
The Greek government should also continue its efforts to introduce an appropriate legal framework in order to facilitate the trading of cryptocurrencies and provide clarity on how it should be taxed.
Profits or capital gains could be taxed at a rate of 15% if the profits are not re-invested in another cryptocurrency within 30 days. However, it is important to note that these figures can vary depending on the individual’s tax bracket and may be subject to change. Ultimately, anyone trading cryptocurrencies should ensure they are aware of their own tax obligations and remain compliant with Greek law.
However, it is recommended so that crypto holders verify the accuracy of their tax records with an accountant or other financial expert. This will help to ensure profits are properly reported and taxes are paid accurately, thus avoiding any potential penalties from the Greek government.
Ultimately, it is important to remember that cryptocurrency profits in Greece must abide by the country’s current regulations and laws.
