Turkey Shelves Additional Plans to Tax Stocks and Crypto: Bloomberg
Summary
Turkey will not implement an additional tax package that would have taxed profits from stock trading and cryptocurrency. Vice President Cevdet Yilmaz confirmed that the proposal was discussed but is no longer on the agenda. The focus will shift to narrowing tax exemptions. In June, plans to tax stocks were postponed after a decline in the equity market. Finance Minister Mehmet Simsek stated that the draft tax study for the stock exchange is being re-evaluated based on feedback. Other countries, such as the U.K. and Japan, are also considering crypto tax reforms.
