Turkey Rules out Taxes on Crypto Profits, Considers Limited Transaction Tax

Turkish Treasury and Finance Minister Mehmet Simsek has stated that there are no current plans to impose taxes on profits from cryptocurrencies. However, he mentioned that the government is considering implementing a “very limited” transaction tax on these assets, though the specifics have not been determined. This statement was made to clarify earlier reports by Bloomberg, which indicated that the government was discussing taxing these profits as part of its fiscal consolidation measures. Turkey had previously reduced the tax rate on stock market profits from 10% to 0%. Ministry officials confirmed that discussions are still in progress.

Source: Bitcoin

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