Turkey removes cryptocurrency tax provisions, originally planned to impose a 0.3% transaction tax

According to Hurriyet Daily News, the Turkish parliament removed the tax provisions related to crypto assets during the review of the omnibus bill. The provisions had proposed a 0.3% transaction tax on crypto transactions conducted through service providers and imposed withholding tax on crypto gains.

This adjustment stemmed from strong opposition from the opposition parties. Officials stated that the relevant content may be resubmitted in the form of separate legislation in the future.