Turkey has decided against implementing a proposed tax package that would have levied taxes on profits from stock trading and cryptocurrency, according to Vice President Cevdet Yilmaz. Yilmaz stated that the issue is no longer on their agenda and officials are now focused on reducing existing tax exemptions.
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. 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
“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. 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 saidin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
Turkey Taxes Cryptocurrency Stock Market Finance
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