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Taxation of Cryptocurrencies: Insights from Minister of Treasury and Finance Mehmet Şimşek

Jul 1, 2024

Minister of Treasury and Finance, Mehmet Şimşek, recently appeared on Bloomberg HT-Habertürk live broadcast to discuss various topics ranging from the economy to new tax policies. Among the issues addressed, Şimşek emphasized the significance of taxation principles, focusing on justice and operational efficiency. According to a report by Habertürk, Şimşek outlined the two fundamental principles of taxation as ensuring fairness and effectiveness in implementation.

Şimşek expressed his views on the matter, stating that the primary approach is to levy taxes on untaxed sectors rather than introducing new tax burdens. Dismissing the ongoing speculation, he highlighted the intention to tax stock market profits in the upcoming fiscal package. Furthermore, in a noteworthy development, he indicated the inclusion of crypto assets in the tax regime. Although the incorporation of cryptocurrencies may not occur in the imminent package, it is slated for consideration in subsequent fiscal initiatives.

In his statement, Şimşek asserted that no sector would remain exempt from taxation, signaling a comprehensive approach to revenue collection and fiscal policies.

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