Overview
- An AK Party bill before parliament would amend tax laws to create a crypto regime tied to the Capital Markets Law, with provisions taking effect two months after publication if passed.
- Regulated platforms would withhold a 10% tax on investors’ realized gains each quarter, covering individuals and companies regardless of residency.
- Service providers would owe a 0.03% tax on the sale amount or market value of each transaction and must declare and remit the levy.
- The president could cut the withholding rate to 0% or raise it to 20% based on factors such as token type, holding period, issuer or wallet.
- Platforms must maintain records for audits under rules that include FIFO cost-basis treatment, VAT relief for deliveries subject to the transaction tax, and enforcement targeting users for any shortfalls tied to incomplete information.