Turkey’s ruling AK Party has tabled a wide-ranging economic bill that would be the country’s first formal tax framework for cryptocurrencies, lawmakers and state media say.
What’s in the proposal
- New crypto tax rules would be written into amendments to the Income Tax Law and the Expenditure Taxes Law, and are now before the Turkish Grand National Assembly, Anadolu Ajansı reports.
- Crypto trading platforms that fall under Turkey’s Capital Markets Law would be required to withhold a 10% tax on investors’ gains each quarter. The withholding would apply to all investors—individuals or companies, residents or non-residents.
- Service providers (exchanges, brokers, intermediaries) would also pay a 0.03% transaction tax on the sale amount or market value of crypto assets they handle.
- Brokers and intermediaries would be responsible for keeping tax records and facilitating tax checks. If a user supplies incorrect or incomplete information, tax authorities would pursue that person for any resulting tax shortfall.
- Key terms—“crypto asset,” “wallet,” and “platform”—would carry the same definitions already used in Turkey’s Capital Markets Law, tying the new tax regime to existing capital markets rules.
- The president would have discretionary power to adjust the withholding tax rate from 0% up to 20% depending on factors such as token type, holding period, issuer, or wallet type.
- Crypto deliveries that are subject to the transaction tax would be exempt from value-added tax (VAT).
- Separately, the bill removes corporate tax exemptions for foundation university hospitals beginning in 2027.
Timing and next steps
If approved, the crypto tax provisions would take effect two months after the bill is published.
Why it matters
The draft aims to bring crypto trading into Turkey’s formal tax system and give authorities new levers—both automatic withholding and adjustable rates—to capture revenue and regulate activity. Exchanges and service providers would take on compliance obligations, while investors would face quarterly withholding regardless of residency status. The presidential flexibility to scale the tax by token, holding period or wallet type also suggests the policy could be tuned to favor or dissuade certain crypto products or behaviors.
The proposal is part of a broader package of tax and spending changes pushed by the AK Party; it now awaits legislative debate and a vote in the Grand National Assembly.
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