Turkish ruling party proposes 10% crypto income tax, levy on service providers | Crypto Craft

  • Turkish ruling party proposes 10% crypto income tax, levy on service providers

    From channelnewsasia.com

    Turkey's ruling AK Party proposed on Monday adopting a tax on cryptocurrency income and a transaction levy on crypto asset service providers, in a draft law submitted to parliament. "Platforms must apply a 10 per cent withholding tax on income and gains from crypto‑asset transactions on a quarterly basis," the text of the draft said. Profits from crypto asset transactions conducted outside authorized platforms would be taxed through declaration in annual statements. Under the proposal, crypto asset service providers would pay a 0.03 per cent transaction tax on sale and transfer transactions they conduct or ... (full story)

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