The proposed legislation, tabled by President Tayyip Erdogan’s ruling AK Party, is expected to generate at least 4.2 billion lira ($95.6 million) from a levy on crypto transactions. However, the analysis cautioned that overall revenue from crypto taxes could not yet be precisely determined, as the measures would be applied for the first time in Turkey.
Under the draft, crypto investors would face a 0.03% transaction tax on transfers conducted through approved platforms. Additionally, a 10% withholding tax would be imposed on profits realized from crypto asset trades. The impact assessment noted that estimating potential revenue from this profit-based tax was not feasible at this stage.
The law also proposes a 20% special consumption tax on certain precious stones, which is projected to contribute roughly 1.9 billion lira annually to the state budget. Analysts suggest that while the crypto levy represents a novel source of revenue, uncertainties around market behavior make exact fiscal forecasts challenging.
If enacted, the legislation would mark a notable expansion of Turkey’s taxation framework into digital assets, signaling the government’s intent to both regulate and monetize the growing cryptocurrency market.