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Turkey Shelves Additional Plans to Tax Stocks and Crypto: Bloomberg
"We don’t have a stocks tax on our agenda," Vice President Cevdet Yilmaz told Bloomberg, including the country's plans that also affect crypto.
Updated Sep 24, 2024, 4:05 p.m. Published Sep 24, 2024, 4:02 p.m.
- Turkey has decided not to move forward with an additional tax package that would have resulted in a levy on profits from stocks trading and crypto, Vice President Cevdet Yilmaz said.
- In June Turkeys government had decided to postpone plans to tax stocks.
Turkey has decided not to move forward with an additional tax package that would have resulted in a levy on profits from stocks trading and crypto, the country's Vice President Cevdet Yilmaz told Bloomberg on Monday.
“We don’t have a stocks tax on our agenda. It was discussed previously and fell from our agenda,” Yilmaz told Bloomberg, adding that officials’ focus in the coming period is going to be on “narrowing” tax exemptions.
STORY CONTINUES BELOW
In June, Turkey's government decided to postpone plans to tax stocks following a decline in the country's equity market due to news of additional taxes.
"We are postponing the draft tax study for the stock exchange for a while to re-evaluate in line with feedback from all relevant parties," Turkish Finance Minister Mehmet Simsek said on X at the time.
Nations around the world, like the U.K. and Japan, have been considering how best to tax crypto and whether any reforms are necessary.
Turkish Presidency didn't immediately respond to CoinDesk request for comment.
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