Cryptocurrency

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/turkey-implements-new-transaction-taxes" data-wpel-link="internal" rel="noopener noreferrer nofollow">Turkey Implements New Transaction Taxes</a><br></p>
<p style="text-align: justify">Turkey has finalized plans to apply transaction taxes on both cryptocurrencies and stock market shares, a notable shift in its financial policy. The proposed bill will be presented to the Parliament shortly after the holiday, showcasing a significant stride in the nation’s fiscal regulations.</p>
<h2 id="what-are-the-new-tax-measures">What Are the New Tax Measures?</h2>
<p style="text-align: justify">For stock transactions, the proposed tax will be between 0.01% and 0.03%. This strategy aims to generate revenue from commercial activities instead of directly taxing gains. This approach aligns with international practices in various global exchanges, aiming to foster market depth and improve overall stock market quality.</p>
<p style="text-align: justify">Minister of Treasury and Finance Mehmet Şimşek has clarified that gains from both cryptocurrencies and stocks will not be subject to income tax. Instead, a transaction tax of around 0.01% will be applied to stock market activities.</p>
<h2 id="how-will-cryptocurrency-transactions-be-affected">How Will Cryptocurrency Transactions Be Affected?</h2>
<p style="text-align: justify">A 2% service fee will be introduced for cryptocurrency transactions through changes to the Capital Markets Law. This fee will be split between the Capital Markets Board (SPK) and the Scientific and Technological Research Council of Turkey (TÜBİTAK). This service fee aims to cover regulatory and technological assessment costs associated with crypto transactions. Although no immediate transaction tax is planned for cryptocurrencies, <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> discussions may lead to the introduction of such a tax based on <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>.</p>
<p style="text-align: justify">The tax package, which includes these new measures, is part of a larger legislative initiative with around 60 articles designed to enhance tax regulations. The initial package, likely to be presented before the parliamentary recess, will focus on removing ineffective tax exemptions and simplifying current rules. Depending on ongoing policy talks and legislative processes, some parts of the reform may be postponed to subsequent legislative packages.</p>
<h3 id="key-takeaways-from-turkey-s-tax-plan">Key Takeaways from Turkey’s Tax Plan</h3>
<p style="text-align: justify">– Turkey is planning transaction taxes for cryptocurrencies and stock market shares.<br> – Stock transaction tax will range between 0.01% and 0.03%.<br> – Cryptocurrency transactions will incur a 2% service fee, shared by SPK and TÜBİTAK.</p>
<p style="text-align: justify">This legislative effort illustrates Turkey’s strategic fiscal policy, aiming to balance revenue generation with market incentives. The approach intends to support financial markets while ensuring fair taxation practices that meet global standards.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/turkey-implements-new-transaction-taxes" data-wpel-link="internal" rel="noopener noreferrer nofollow">Turkey Implements New Transaction Taxes</a></h5>

Turkey Implements New Transaction Taxes

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