Withdrawals Misclassified as Rental Income on Binance TR

by Giorgi Kostiuk

9 months ago

Users of the cryptocurrency exchange Binance TR discovered that their withdrawals to bank accounts appeared as rental income on the e-Government platform, causing confusion.

Withdrawal Accounting Issue

Certain users of Binance TR, the Turkish branch of the Binance exchange, noticed that their withdrawals to bank accounts were recorded as rental income. This raised concerns over possible tax implications.

Response from Binance TR

Binance TR issued a statement informing its users that the issue is not related to their platform. The exchange is in contact with relevant authorities to clarify the situation.

Dear Users, we are aware of the confusion regarding tax information on crypto investments. We would like to state that this situation is not caused by our platform. We are in contact with the relevant institutions to clarify the issue.Binance TR

Statement by Revenue Administration

The statement from the Revenue Administration echoed the awareness of the occurring confusion and the need for resolution. It included similar information as the Binance TR statement, confirming that the exchange is not responsible for the situation.

While the issue of withdrawals being misclassified as rental income continues to perplex Binance TR users and poses potential tax ramifications, both Binance TR and tax authorities are working towards a resolution.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Large Wallet Activity and Exchange Supply Drop

Wallets holding between 10,000 and 100,000 ETH now control over 21 million tokens, indicating increased accumulation. Addresses with over 100,000 ETH have increased their holdings, while tokens on exchanges are decreasing. This trend may indicate a bullish sentiment among large investors ahead of the next rally.

Kofi Adjeman12 minutes ago

Ethereum Surges Above Key Support Level

Ethereum has bounced back from a critical support level, trading above $3,000 after recovering from the $2,600-$2,700 zone. ETH has increased by 4% in the past 24 hours, breaking above its RSI downtrend for the first time since October.

Tando Nkube12 minutes ago

IPO Genie Demonstrates Stable Growth and Clear Bonus Structure

IPO Genie showcases a stable growth pattern and a transparent crypto bonus model.

Diego Alvarez27 minutes ago

Sui Introduces Innovative Parallel Processing for Speed

Sui is making waves in the blockchain community with its innovative parallel processing architecture, which significantly enhances transaction speed and responsiveness.