Turkey's ruling party proposes a 10% tax on crypto income and a 0.03% transaction tax for service providers
Foresight News reports that, according to Reuters, Turkey's ruling Justice and Development Party (AK Party) submitted a draft law to parliament on Monday, proposing to tax cryptocurrency income and impose transaction fees on crypto asset service providers. The draft stipulates that platforms must withhold 10% of the profits and gains from crypto asset transactions as a quarterly withholding tax, while profits from crypto asset transactions conducted outside authorized platforms must be declared and taxed annually. Additionally, the proposal requires crypto asset service providers to pay a 0.03% transaction tax on sales and transfer transactions they execute or broker. According to a report by blockchain research firm Chainalysis, driven by high inflation and the depreciation of the lira, Turkey ranks among the world's leaders in cryptocurrency adoption, with annual trading volume reaching nearly $200 billions in 2025.
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