Tax message on crypto income from Minister Şimşek
According to the news of Türkiye Newspaper, Mehmet Şimşek also touched upon the issue of taxation of cryptocurrencies while making a presentation about the economy at the AK Party's consultation meeting in Kızılcahamam.
While studies on regulations regarding cryptocurrencies have been ongoing for a long time in Turkey, Turkish cryptocurrency investors were mostly looking for an answer to the question of whether taxes would be imposed on crypto income.
Clarifying this issue, Mehmet Şimşek said, “It is the same in the world, if an income is generated, there should be a tax on it. Crypto assets, exchange-traded assets, mutual funds, etc. "They need to be disciplined," he said. With this statement, Şimşek gave the message that new steps will be taken to impose taxes on income obtained from crypto currencies.
Taxation issue was not brought up in the crypto bill
On the other hand, AKP Group Chairman Abdullah Güler, who made a statement about the draft law on cryptocurrency regulation, which received approval from the Commission last week, said that there is no taxation in the current proposal. Güler stated that they were working on a revenue model in which a 1% deduction would be made for CMB and 1% for Tübitak to be collected from crypto exchanges.
While the second regulations are expected to come within 6 months after the bill prepared for the Turkish crypto market becomes law, based on Minister Şimşek's statements, it can be seen that the issue of taxation of crypto income will also come to the agenda in the second regulation stage.