Turkey Proposes 10% Tax on Cryptocurrency Gains

[tradelikepro]

Justice and Development Party has introduced a draft bill proposing a 10% tax on cryptocurrency income and gains as part of broader amendments to Turkey’s tax laws. According to Anadolu Agency, lawmakers in the Grand National Assembly of Turkey are considering changes that would require crypto platforms subject to capital gains rules to withhold the 10% tax on a quarterly basis.

The proposal would also grant Turkey’s president the authority to adjust the crypto tax rate anywhere between 0% and 20%. In addition, service providers facilitating crypto transactions could face a 0.03% transaction tax. If approved, the treasury would oversee enforcement, and the law would take effect two months after publication.

[AIcash]

0.03% transaction tax is giving “we’ll take a little off the top don’t worry about it”