Turkey has rejected plans to tax profits made on shares and cryptocurrencies. However, the government is considering a limited tax on transactions of such assets.
Finance Minister Mehmet Şimşek said the aim is to leave no area untaxed to ensure fairness in taxation. The country had already reduced the tax rate on stock market profits from 10% to 0% in 2008.
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According to Bloomberg, it was reported on June 4 that Turkey was planning to introduce a tax on profits from stock and crypto trading.
During a recent meeting, Minister Şimşek emphasized the importance of properly taxing all financial income. Currently, Turkey does not have specific regulations to tax cryptocurrencies, but the government is actively working to establish a legal framework.