Turkey eyes 0.03% tax on digital asset transactions: report
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Turkey is planning to impose new taxes on digital asset transactions as part of its most extensive tax overhaul in decades, a new report says.
President Recep Tayyip Erdoğan’s government seeks to raise 226 billion lira ($7 billion) in its new tax proposals to plug a budget deficit caused by last year’s catastrophic earthquake, which claimed over 50,000 lives.
The tax measures will be presented to parliament by the Treasury and Finance Ministry, led by Mehmet Simsek, Bloomberg reports, citing sources within the government.
The new taxes, which would be the most drastic overhauls since 1999, mainly target corporates—which the government expects to churn out an extra 130 billion lira—and real estate trusts.
