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🚨🇹🇷 There may be transaction tax and declaration requirements regarding cryptocurrencies in Turkey
In particular, an important claim has been put forward regarding the crypto money regulations expected to come after the March 31 municipal elections. It is stated that the Revenue Administration will introduce a transaction tax at a level that will not scare investors, as well as a declaration requirement that the tax deduction rate will be zero in order to prevent the transfer of assets abroad.
While cryptocurrency regulations are being discussed in many regions from the USA to Russia, from the EU to Asia, an important claim has also been put forward about #Turkey According to the information provided by Rahim Ak from Haberturk; the Revenue Administration, which is affiliated to the Ministry of Treasury, plans to introduce two tax items on cryptocurrencies, one with a “zero deduction rate”.
In the news, the first news about the study was given by Ondokuzmayis University Faculty Member Prof. Dr. Murat Batı announced on social media, while it was stated that a transaction tax was on the way. West, Section 75 of the Income Tax Code.he wrote that cryptocurrencies, which are considered as Securities Capital in accordance with article th, will be taxed through withholding, that is, tax deduction.
Going abroad will be prevented
On the other hand, in addition to the transaction tax, a study is also being carried out in order to prevent the outflow of cryptocurrencies abroad via other platforms. Accordingly, in cryptocurrencies, which are considered to be considered securities capital such as bonds and stock markets, it is also considered to impose taxes through withholding, that is, tax deduction, in order to prevent the escape of earnings abroad. Thus, it will be mandatory for those who smuggle their earnings abroad to make a declaration and declare their earnings. However, the withholding, that is, the tax deduction rate, will remain at zero.
