Greece is preparing to introduce a tax on profits from trading cryptocurrencies
Date: 2024-07-23 Author: Henry Casey Categories: IN WORLD
According to information from the publication Ekathimerini, citing informed sources in the Ministry of Economy and Finance of Greece, the country's authorities are planning to introduce a new tax on profits from trading cryptocurrencies. The main reason for this decision was dissatisfaction with the lack of transparent and clear legislation in the field of taxation of digital assets. Authorities are concerned that many investors, including those who are technically considered unemployed, are not declaring their income from cryptocurrency transactions, resulting in significant budget gaps.
The growth of cryptocurrency transactions and their impact on the capital
In 2024, there is a noticeable increase in transactions with cryptocurrencies, especially among citizens aged 30 years and over who own real estate. This trend has become especially evident in the Greek capital, Athens, where the number of events and meetings related to digital assets has increased. This active use of cryptocurrencies in the country highlights the need to introduce stricter regulation and taxation to ensure fair conditions in the market.
The Greek government is currently awaiting proposals from a specially created committee, which should provide a set of measures to improve tax legislation in the field of crypto assets in September. The Ministry of Economy and Finance hopes that the new tax system will not only help attract additional funds to the state budget, but will also create fair conditions for participants in the local crypto industry.
Earlier, European regulators published new guidelines that will allow crypto market participants to classify digital assets in accordance with the EU Cryptocurrency Act (MiCA). These new rules are aimed at creating uniform standards for regulating cryptocurrencies, which should make it easier to work with digital assets and strengthen investor protection.
With the introduction of new tax measures, Greece seeks not only to streamline the cryptocurrency market, but also to ensure more transparent and fair taxation in line with modern conditions of economic activity.
