According to the state-run Anadolu Agency, the document establishes the legal framework for taxing digital currencies as part of an initiative to regulate the sector and bolster the national budget. If approved by lawmakers, the new regulations will take effect two months after their official publication.
Withholding Tax
The bill introduces a 10% tax on gains derived from digital asset operations. Crypto platforms operating under the country’s Capital Markets Law will be required to act as tax agents, withholding these funds on a quarterly basis.
The mandate applies to all participants, including individuals, corporations, residents, and foreign nationals. Furthermore, brokers and intermediaries will be subject to a separate transaction tax of 0,03% of the total sale amount or the market value of the assets involved.
Compliance
The authors of the document have prioritized legal precision by aligning the definitions of "crypto asset," "wallet," and "platform" with existing financial regulations. This move is designed to eliminate ambiguity during tax audits and legal proceedings.
"The primary reporting burden will fall on crypto brokers. They will be required to maintain meticulous transaction records and provide this data to tax authorities. If a user provides incomplete or fraudulent information, the authorities will pursue the individual directly for any tax shortfall," the agency reported.
Tax exemptions
Notably, the bill grants the President the authority to adjust the tax burden dynamically. The executive branch will have the power to lower the rate to 1% or raise it to 20%, depending on several variables:
- The specific type of token;
- The duration the asset was held;
- The identity of the issuer;
- The type of crypto wallet utilized.
The legislation also provides some relief for the industry. Crypto transactions that fall under the new 0,03% transaction tax will be exempt from Value Added Tax (VAT).
However, the broader economic reform extends beyond the crypto market; for example, university hospitals are set to lose their corporate tax exemptions starting in 2027.
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