Greece to impose 10% tax on cryptocurrency investment profits

Cryptocurrency tax bill passed by Congress... “The first comprehensive tax system”

(Rome = Yonhap News) Correspondent Kyeong-rak Min = Greece begins full-scale taxation of cryptocurrency investment profits.

According to Reuters on the 6th (local time), the Greek parliament passed a bill the previous day imposing a 10% tax on cryptocurrency capital gains.

According to the bill, taxation is imposed on cryptocurrency investment profits exceeding 500 euros (about 750,000 won) per year. Investment profits not exceeding 500 euros per year are tax-free.

Detailed implementation guidelines, including audit regulations, will soon be established.

Reuters evaluated this bill as “the first comprehensive taxation system for virtual currency taxation.”

However, the Greek Ministry of Finance did not provide a forecast for cryptocurrency tax revenue. This is because the majority of investors use overseas platforms, making it difficult to determine the size of the virtual currency market in Greece.

The tax rate on cryptocurrency investment profits in European countries is usually around 8-30%, but there is no unified taxation system.

Korea is pursuing a plan to implement income taxation on virtual assets from 2029, which was scheduled to begin next year. The government announced on the 5th that it would pursue a plan to defer virtual asset income taxation for two years in consultation with the National Assembly. The original taxation date was January 2022, but it was postponed four times for reasons such as tax infrastructure maintenance.