Turkey introduced a 0.03% tax on crypto transactions as part of a major fiscal reform to address the budget deficit caused by recent earthquakes.
Turkey is preparing to introduce new taxes, including a 0.03% transaction tax on cryptocurrency trading, as part of a significant fiscal overhaul. The move aims to address the country’s budget deficit caused by 2023’s earthquakes and proposes a shift in approach to financial transaction regulation.
According to a report from Bloomberg, which cited the proposed changes, imposing a transaction tax on crypto trading could provide a significant windfall for tough economic circumstances:
Related: Turkey denies plans to tax crypto, stock gains
Read more
Source: https://cointelegraph.com/news/turkey-targets-crypto-with-transaction-tax