The bill submitted to the committee today Turkish cryptocurrency investors It constitutes the most important regulation in history. The work, which was put on the agenda in 2021 and then paused, is now about to officially come into force. The 10% and 0.03% figures are confusing, but there is also a separate taxation of up to 40%. Let’s quickly solve this knot through ratios.
0.03% Tax
this tax stock exchanges It will be paid by and will probably be covered by cryptocurrency investors’ transaction commission income. When you buy, sell or transfer 10 thousand TL worth of crypto money, there will be a transaction tax of 3 TL for 10 thousand TL, since you are trading on a cryptocurrency exchange located in Türkiye.
Process tax There is nothing you need to do for this. Stock exchanges can cover this small figure themselves and highlight it in their advertising and marketing activities for a competitive advantage.
10% Tax
It will be collected as investment gains tax. For example, you sent 100 thousand TL from your bank account to the local cryptocurrency exchange. You bought Solana (SOL) worth 100 thousand TL with this money. After 1 month, the three-month calculation period came and your total balance was determined as 110 thousand TL with a gain of 10 thousand TL. You will be charged 10% of your 10,000 TL earnings, that is, 1000 TL tax.
This will be the final taxation and you will be able to withdraw your balance to your bank account with peace of mind.
So what if you are using a global exchange? For example, you sent 100 thousand TL from your bank account to the local cryptocurrency exchange. You converted this balance into any cryptocurrency and sent it to the global stock market. You bought Solana (SOL) worth 100 thousand TL there. Let’s assume that you withdraw 110 thousand TL worth of Solana (SOL) to the local stock market with a gain of 10 thousand TL.
The exchange will ask you to prove your purchase cost (Draft Text: “In case the crypto asset is transferred to the platform for the first time, the declaration of the asset owner will be taken as basis as the purchase price, provided that it is documented.”).
- When purchasing via DeFi, you will be asked to prove the transaction. You will be responsible for reporting information such as TxID to the local exchange.
- You will need to submit the transaction history from the global exchange to the local exchange, showing on what date, at which parity and for what amount the relevant crypto asset was purchased.
in Türkiye cryptocurrency of stock exchanges full responsibility for proof (Text in the Draft: “Those who intermediary in the purchase and sale of crypto assets are held responsible for the assessment within the scope of the information and documents they have or have delivered.”) In other words, when you make a false statement or incomplete information (Draft Text: “Due to missing or incorrect information, the necessary assessment/penalty will be imposed on behalf of the person making the notification for the part declared incompletely.”), that is, when you raise suspicion, local stock exchanges will be motivated to quickly report you in order to avoid penalties and sanctions.
Note: Quarters in which you write off losses instead of gains can only be offset for the relevant year. In other words, if you have a loss of 10 thousand TL (and if your loss is not closed until the end of the year and this loss is proven in the local stock market), this loss will be deducted from your earnings arising from 10 different transactions.
Tax Between 15% and 40%
This is the most crucial point. You simply pay 10% of your trade income and finish the process. However, if you “show your cost as zero” when transferring crypto money from the global exchange to the local exchange, income tax will arise.
- Airdrop income in return for tasks etc.
- Stake proceeds.
- Situations where you receive payment in cryptocurrency for services.
- Reference income.
In these cases, tax payments will be made at rates ranging from 15% to 40% within the scope of the 2026 cumulative income tax bases and fixed amounts to be paid.
For 2026, you will pay 35% tax when you earn between 1 million 1 TL and 5 million 300 thousand TL. So, when you withdraw 100,000 TL from the global stock market, if you are in the first tax bracket, there will be a tax of 15%, that is, 15 thousand TL. In the future, this figure will change to 20, 27, 35 and 40 thousand lira. (According to the above rates)
In addition, while the part that appears as profit and 10% tax is collected does not exceed your tax base limit, airdrop income and other income may put you in a higher tax bracket early. It would be beneficial to talk to your financial advisor about this matter.
When will it become law?
The offer was submitted today and since Ramadan and Eid al-Adha are close together, the process may take longer due to holidays. Due to the 20-22 Ramadan Feast, there will probably be a holiday for commissions etc. that week. In other words, the commission process may not be completed in March.
The proposal is expected to come to the General Assembly in April. The week of April 23 may also cause a short delay due to the holiday. General Assembly approval is likely to come in the first week of May. However, if the process does not progress quickly, the 27-30 May Eid al-Adha holiday may postpone the process.
In the bill proposal crypto taxes It is stated that it will be put into effect at the beginning of the second month following its enactment.
Accordingly, if the law completes the signature processes of the commission, the General Assembly and the President and is published in the Official Gazette in April, it will be put into effect on June 1.
If it is published in May, taxes will come into effect on July 1, and if it is published in June, taxes will come into effect on August 1. In other words, in the most optimistic scenario, it is expected to become law and come into force in June, in the most cautious scenario, in August. Since the commission and enactment process is generally around 60 days in laws, the potential for it to be put into effect in July is not small.
