Turkey denies plans to tax crypto, stock gains

Turkey has dismissed levies on profits from stocks and cryptocurrencies but is exploring a transaction tax as part of efforts to regulate the tax on financial transactions.

Turkey has dismissed plans to impose taxes on profits from stocks and cryptocurrencies but suggested a “very limited” levy on transactions.

According to Bloomberg, Treasury and Finance Minister Mehmet Simsek said during an interview in Ankara that the government is considering a “very limited” transaction tax on the assets.

“Our aim is to leave no area untaxed in order to provide justice and effectiveness in taxation,” Simsek stated, without specifying its potential size. In 2008, Turkey reduced its tax rate on stock market profits from 10% to 0%.

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