Turkey’s Justice and Development Party (AKP) has proposed a draft bill that would impose a 10% tax on income and gains from cryptocurrencies as part of amendments to the country’s tax laws. The proposal, submitted to the Turkish Grand National Assembly, would require platforms subject to capital gains tax to withhold 10% on crypto gains and income from transactions on a quarterly basis.
The draft also gives Turkey’s president authority to set the crypto income tax rate anywhere from 0% up to 20%. In addition, service providers that facilitate crypto transactions would face a 0.03% transaction tax on transactions they enable. The treasury would be responsible for issuing regulations and enforcing the bill, which would take effect two months after publication if enacted.
Chainalysis reported that Turkey led the Middle East and North Africa in crypto transaction volumes, recording about $200 billion from July 2024 to June 2025. Analysts have linked high crypto activity in Turkey to difficult economic conditions: inflation peaked at 85% in October 2022 and had declined to roughly 30% by January of this year, according to Trading Economics. Chainalysis said Turkey’s large volumes may reflect increasingly speculative behavior and adoption driven by economic necessity, alternative financial needs, and investment to escape financial hardship.
The move follows broader international discussions about higher taxes on digital assets. For example, the Netherlands advanced a proposal to introduce a 36% capital gains tax on savings and most liquid investments, including digital assets, though that proposal remains subject to further votes and potential amendments.
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