 has submitted a bill to parliament that would impose a 10 percent withholding tax on income and gains from cryptocurrency transactions carried out on authorized platforms.){kind=link}
Turkey’s ruling Justice and Development Party (AKP) has submitted a bill to parliament that would impose a 10 percent withholding tax on income and gains from cryptocurrency transactions carried out on authorized platforms.
The legislation would require platforms to apply the 10 percent withholding tax on a quarterly basis. Crypto gains from transactions conducted outside authorized platforms would be taxed through annual declarations.
The bill also proposes a separate levy on the industry itself, creating a 0.03 percent transaction tax on cryptoasset sales and transfers carried out or brokered by cryptoasset service providers.
According to the parliamentary summary, the 0.03 percent tax would be calculated on the sale amount or, for transfers, the asset’s market value at the time of transfer. The tax would be declared monthly, to be paid by the 15th day of the following month.
Turkey has become one of the world’s largest crypto markets, with adoption fueled by years of high inflation and a weakening lira, and authorities have been tightening oversight of platforms.