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In Turkey, a proposal has been made to implement a 10% tax on earnings from cryptocurrencies., 2026/03/03 12:57:46
The ruling party of Turkey, the Justice and Development Party (AKP), has proposed the introduction of a 10% tax on income and profits derived from cryptocurrency transactions. This initiative is part of a draft amendment to the country’s tax legislation.
According to the document, the tax on earnings from crypto transactions is expected to be withheld quarterly. The President of Turkey will have the authority to adjust the rate within a range of 0% to 20% based on:
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the type of crypto asset;
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the duration of asset ownership;
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the issuing company;
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the type of cryptocurrency wallet used.
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Additionally, the bill includes a transaction tax of 0.03% for service providers conducting operations with cryptocurrencies. Investors trading outside licensed platforms will be required to declare their income annually.
Crypto brokers and other intermediaries will be responsible for conducting tax audits based on their records. In cases where clients provide incomplete or inaccurate information, tax authorities will have the ability to collect the owed taxes directly from those individuals.
The proponents of the initiative assert that the document aims to legalize the sector and enhance budget revenues through the rapidly expanding cryptocurrency market. If approved, the regulations will take effect two months after their official publication.
Previously, Bloomberg reported that Turkish authorities are also preparing a bill that would grant the financial intelligence unit Masak the authority to freeze accounts and funds on cryptocurrency services as part of efforts to combat money laundering.
