DAC8 Transposition in Greece: Regulatory Update

Greece's crypto-asset market has grown steadily in recent years, driven partly by economic uncertainty and growing interest in alternative assets among the Greek population. DAC8 transposition will formalize crypto tax reporting in a country that has historically focused its enforcement resources on more traditional forms of tax evasion.

Regulatory Context

The Hellenic Capital Market Commission (Επιτροπή Κεφαλαιαγοράς) and the Bank of Greece oversee aspects of financial services regulation. CASPs operating in Greece must register under the national AML framework supervised by the Hellenic Anti-Money Laundering Authority.

Tax Treatment

Greece taxes crypto-asset gains as capital gains at a rate of 15% for individuals. This rate, introduced in recent tax reforms, is relatively competitive within the EU and reflects Greece's desire to attract digital economy activity while maintaining tax transparency.

Transposition and TIN System

The Ministry of Finance (Υπουργείο Οικονομικών) leads transposition, with the Independent Authority for Public Revenue (Ανεξάρτητη Αρχή Δημοσίων Εσόδων — AADE) serving as the competent authority. The Greek TIN is the ΑΦΜ (Αριθμός Φορολογικού Μητρώου), a nine-digit tax registration number assigned to all taxpayers.

Expected Penalties and Impact

Greece's penalty framework includes administrative fines under the Tax Procedures Code and potential criminal sanctions for tax evasion. The AADE has been modernizing its digital infrastructure and is expected to use DAC8 data actively for cross-referencing against individual tax returns.

Conclusion

Greece's competitive crypto tax rate and modernizing tax administration create an environment where DAC8 compliance is both manageable and important. CASPs should prepare for increasing scrutiny as the AADE integrates DAC8 data into its enforcement systems.