Turkey has decided not to introduce additional taxes on stocks and crypto trading profits, according to VP Cevdet Yilmaz. The decision comes after Turkey considered the economic impact and feedback from various stakeholders, shifting the focus to changing tax exemptions instead.

Turkey has recently decided to abandon plans for an additional tax package that would have imposed levies on profits from stock trading and cryptocurrency. This announcement was made by Vice President Cevdet Yilmaz, who clarified that there is currently no agenda for a stock tax. He indicated that discussions regarding this tax had previously taken place but have since been removed from the government's agenda. Instead, the focus will shift towards narrowing existing tax exemptions. This decision follows a previous postponement in June, when the Turkish government opted to delay plans to tax stocks due to a downturn in the equity market, which was influenced by the potential for new taxes. Turkish Finance Minister Mehmet Simsek had stated at that time that the draft tax study for the stock exchange would be re-evaluated based on feedback from relevant stakeholders. Globally, countries such as the U.K. and Japan are also exploring how to effectively tax cryptocurrencies and whether reforms are necessary in this area. The Turkish Presidency has not yet responded to requests for further comments on this matter. CoinDesk, the media outlet reporting this news, is recognized for its coverage of the cryptocurrency industry and adheres to strict editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, which operates a regulated digital assets exchange and has significant interests in blockchain and digital assets. The organization maintains its journalistic independence through an editorial committee, despite its ownership structure.