Under the proposed law, Turkey’s president would be allowed to change the income tax rate on digital assets from zero to up to 20%.
Turkey’s Justice and Development Party proposed a 10% tax on cryptocurrency income and gains as part of a draft bill amending the country’s tax laws.
According to a Monday report from the state-run media Anadolu Agency, lawmakers in the Turkish Grand National Assembly proposed amending the country’s expenditure tax laws to include a 10% tax on digital assets. Under the legislation, platforms that are subject to capital gains tax in the country could be required to withhold 10% tax on gains and income derived from crypto transactions on a quarterly basis.
The proposed law would allow Turkey’s president to change the tax rate on crypto from 0% to 20%, and service providers would be subject to a 0.03% transaction tax on transactions they facilitate. The country’s treasury is expected to implement regulations and enforcement for the bill, which is expected to take effect two months after publication should it become law.
Chainalysis reported in October that Turkey led the Middle East and North Africa in crypto transaction volumes, with $200 billion from July 2024 to June 2025. The G-20 country saw inflation peak at 85% in October 2022 before declining to about 30% in January this year, according to data from Trading Economics.
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“[Turkey] presents one of MENA’s most compelling cryptocurrency stories — its large volumes may be explained by increasingly speculative behavior rather than sustainable adoption,” Chainalysis said in October. “The country’s challenging economic circumstances seem to have driven substantial adoption of crypto for economic necessity, as an alternative financial infrastructure, and as a form of investment to escape financial hardship.”
The latest nation to explore significant higher crypto taxes
In February, the Netherlands’ House of Representatives advanced a proposal to introduce a 36% capital gains tax on savings and most liquid investments, including digital assets.
The law, still subject to a vote in the country’s Senate, could take effect in 2028 if passed. However, a report from last week signaled that the Dutch finance minister was considering amending the bill.
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