Turkey Considers Taxing Crypto and Stock Gains, Fair Taxation Emphasized
CryptoNewsTerminal Staff05 Jun, 2024
Turkey Considers Taxing Crypto and Stock Gains, Fair Taxation Emphasized
Turkey is exploring the possibility of imposing taxes on profits from cryptocurrency and stock investments, according to a government official who spoke to Bloomberg under the condition of anonymity. The proposal was reportedly discussed during a meeting of the ruling party over the weekend. Finance Minister Nureddin Nebati highlighted the importance of ensuring fair taxation of all financial income. The Turkish Treasury declined to provide comment on the matter. Notably, Turkey eliminated a 10% tax on stock investment earnings in 2008. This move signals Turkey's intention to regulate the cryptocurrency market, which has seen significant growth in recent years. The government may seek to generate additional revenue while ensuring that investors are treated fairly. The full details of the proposed tax measures are yet to be announced.
