Tax Preparation for Cryptocurrencies: The Rate Has Been Determined!

According to Habertürk’s news, the Ministry of Treasury and Finance plans to impose a transaction tax of 4 per thousand on cryptocurrency investments and 2 per thousand on stock market investments.

While it was stated in the news that it is not planned to introduce a tax such as income tax, it was stated that the cryptocurrency transaction tax will be deducted as a withholding tax when people send money from banks to crypto exchanges to invest in crypto.

It was also stated that the ministry does not plan to collect income tax for now.

Finally, the news included the information that the transaction tax regulation planned to be introduced for crypto and stock market transactions will not be retroactive, that is, it will be valid for transactions made after the regulation comes into force.

As you may remember, Minister of Treasury and Finance Mehmet Şimşek stated at the AK Party’s consultation meeting in Kızılcahamam that they were carrying out new studies on the taxation of income obtained from cryptocurrencies and transactions made on crypto exchanges.

*This is not investment advice.

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