Turkey's ruling party proposes a 10% tax on crypto income

Under the proposed law, the Turkish president would be allowed to change the tax rate on digital assets from zero to 20%.

Turkey’s Justice and Development Party has proposed a 10% tax on income and cryptocurrency income as part of a bill to amend the country’s tax laws.

Turkey’s National Assembly lawmakers have proposed amending the country’s tax laws to include a 10 percent tax on digital assets, according to a report Monday by state-run Anadolu media. According to the legislation, platforms that have a capital gains tax in the country are required to withhold 10% of the income and income from crypto transactions every quarter.

The proposed law would allow the Turkish president to change the crypto tax rate from 0% to 20%, and service providers would be charged a 0.03% tax on the transactions they facilitate. The Treasury is expected to implement the regulations and enforcement of the bill, which, if enacted, will take effect two months after publication.

Chainalysis reported in October that Turkey leads the Middle East and North Africa in terms of crypto transactions with $200 billion between July 2024 and June 2025. The G-20 nation saw inflation peak at 85% in October 2022, before falling to around 30% in January, according to Trading Economics.

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“(Turkey) represents one of the most interesting MENA cryptocurrency stories – its sheer volume can be explained by increasingly speculative behavior rather than sustained adoption,” Chainalysis said in October. “The difficult economic conditions of the country seem to have led to significant adoption of crypto for economic necessity, as an alternative financial infrastructure and as a form of investment to escape financial difficulties.”

The latest nation to explore higher crypto taxes

In February, the Dutch House of Representatives proposed a 36% capital gains tax on savings and most liquid investments, including digital assets.

This law, which is still being voted on in the country’s Senate, may enter into force in 2028 if approved. However, a report from last week indicated that the Dutch finance minister is considering amending the plan.