Greece plans 10% cryptocurrency capital gains tax

ATHENS, Oct 8 (Reuters) - Greece is preparing legislation to impose a 10% capital gains tax on cryptocurrencies, according to a draft bill published for public consultation late on Thursday.

There is no comprehensive legal framework for taxing cryptocurrencies in Greece, and European Union countries do not have a unified taxation system for the sector.

The draft bill says that cryptocurrency capital gains of up to €500 ($559.95) per year will be exempt from the new tax. The bill is due to be submitted to parliament in November. 

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

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

($1 = 0.8929 euros)

(Reporting by Lefteris PapadimasEditing by David Goodman)