Turkey's AK Party submits bill to introduce crypto income tax, levy on service providers

ISTANBUL, March 2 (Reuters) - Turkey's ruling AK Party ‌on Monday submitted ‌to parliament a draft law ​that would introduce a tax on cryptocurrency income and a transaction ‌levy on ⁠crypto asset service providers.

According to the ⁠draft text, gains from the buying and ​selling of ​crypto ​assets would ‌be subject to withholding tax, while transactions conducted outside authorised platforms would be taxed through ‌declaration.

Under the proposal, ​crypto asset ​service ​providers would pay ‌a 0.03% transaction ​tax on ​sale and transfer transactions they conduct or ​mediate.

(Reporting ‌by Ezgi Erkoyun ​and Nevzat DevranogluEditing by ​Ece Toksabay)