Greece to tax gains from crypto, sources say

ATHENS, June 5 - ‌Greece is ​preparing ​legislation to impose a 15% capital gains tax on cryptocurrencies, two government officials ‌with knowledge of the issue told Reuters ⁠on Friday.

Greece doesn't have a comprehensive legal framework for ‌taxing cryptocurrencies, and European ‌Union countries don't have a unified taxation system for the sector.

A senior government official told ​Reuters that the Finance Ministry is preparing a law that is expected to be ⁠submitted to the parliament in coming months.

"The aim is to include ​cryptocurrencies in the country's tax code," the official said.

Taxation of cryptocurrencies among European countries ​varies from 8% in ‌Cyprus to 30% in France and is usually imposed on capital gains.

A second official ⁠confirmed the government's plan, adding that the first 500 euros ($580) of gains will be tax-free. The ⁠tax will not apply to individual cryptocurrency mining, but will ​if the entity mining is registered as a corporation.

Both officials said that it is very difficult to estimate ‌the size of Greece's cryptocurrency market since the vast majority of investors use ‌platforms outside the country. For the moment ⁠there isn't a specific ‌projection for state ​revenues from the new tax.

($1 = 0.8615 euros)

(Reporting by Lefteris Papadimas, edditing by Sharon ‌Singleton)

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