Crypto Taxation in Turkey: A Complete Guide

Turkey stands out as a major player in the global crypto scene, with millions trading digital coins to cope with high inflation and a dropping lira. In 2025, the government welcomes this rise while setting clearer tax guidelines. Knowing these rules is key for people and companies to follow the law and steer clear of fines in this fast-growing field. The Revenue Administration (GİB), part of the Ministry of Treasury and Finance, handles crypto taxes, fitting them into Turkey’s financial system.

Tax Authorities & Regulations

The Revenue Administration (GİB) controls all tax matters, including crypto. Since 2021, the Central Bank of Turkey (CBRT) has stopped crypto from being used as payment, though buying and keeping it is still allowed. The 2024 Capital Markets Law, run by the Capital Markets Board (CMB), calls crypto an intangible asset, not money. In 2025, the GİB sees it as a financial asset for taxes, applying regular income and business tax laws while adding new rules to fill old holes.

Types of Crypto Taxes in Turkey

• Capital Gains Tax (CGT) – Applies to profits from selling or trading crypto, treated as asset gains.
• Income Tax – Covers crypto earned from mining, staking, or payments for services.
• Value-Added Tax (VAT) – Exempt for individual crypto trades; applies to businesses offering crypto services.
• Transaction Tax – A proposed 0.03% tax on crypto trades, under review in 2025.

Tax Rates & Brackets

• Individuals pay CGT at progressive income tax rates, 15% to 40%, based on annual earnings.
• Businesses face a 20% corporate income tax on crypto profits, down from 23% in prior years.
• Income tax on crypto earnings (e.g., mining) ranges from 15% to 40% for individuals.
• No specific exemptions exist for crypto, though losses may offset gains under general tax rules.

Crypto Transactions & Tax Treatment

• Buying and selling crypto – Buying isn’t taxed; selling profits trigger CGT.
• Crypto mining and staking – Rewards are taxed as income at receipt value.
• Crypto as payment – Taxed as income if received for goods or services.
• Crypto-to-crypto trades – Taxable as CGT, based on market value at trade time.
• DeFi, lending, and yield farming – Earnings count as income, taxed at 15% to 40%.
• NFT transactions – Sales profits face CGT; creation income is taxed as earnings.

Crypto Tax Reporting & Compliance

Taxpayers must report crypto income to the GİB annually. Individuals file via the Personal Income Tax Return by March 31, while businesses use the Corporate Income Tax Return by April 30, covering the prior year. Records—transaction dates, amounts, and values—must be maintained, often from foreign platforms due to local exchange oversight. Starting 2025, trades over 15,000 TRY require ID verification by the CMB. Non-compliance risks fines or audits as enforcement tightens.

Tax Deductions & Exemptions

No crypto-specific deductions exist in Turkey. However, losses from crypto trades can offset gains within the same tax year. Businesses may deduct operational costs (e.g., mining equipment) if registered legally. General income tax thresholds (e.g., 150,000 TRY exempt for 2025) offer minor relief, but no broad crypto exemptions apply under current law.

Enforcement & Penalties for Non-Compliance

The GİB tracks crypto via exchange data, blockchain analysis, and CMB oversight of licensed platforms. The Financial Crimes Investigation Board (MASAK) monitors for money laundering, aligning with FATF standards to exit the grey list in 2025. Penalties for tax evasion start at 50% of unpaid tax, rising to 300% for fraud, per the Tax Procedure Law. Audits may freeze assets, and jail time is possible for major violations, with stricter checks on offshore holdings.

Future of Crypto Taxation in Turkey

By late 2025, Turkey may finalize a 0.03% transaction tax, adding budget revenue while keeping CGT modest. The government supports blockchain growth, with CMB licensing expanding. Alignment with global norms, like the EU’s MiCA, could refine rules, balancing innovation and stability. Tax clarity may boost Turkey’s appeal as a crypto hub.

Conclusion

Turkey treats crypto as a financial asset, taxing profits at 15% to 40% and earnings as income, all watched by the GİB. People need to keep good records and file on time to dodge big fines. With rules changing, staying informed and getting expert help is smart to handle this rising market without trouble.

FAQs

1. Is cryptocurrency accepted as official money in Turkey?
   No, it is not legal tender; only the Turkish lira is recognized as official currency. It is viewed as a financial asset.

2. Are earnings from selling cryptocurrency taxed in Turkey?
   Yes, profits are taxed as capital gains, ranging from 15% to 40%, based on a person’s total yearly income.

3. Does mining cryptocurrency lead to taxes in Turkey?
   Yes, rewards from mining are taxed as income, between 15% and 40%, depending on their value when received.

4. Do businesses have to tell the tax authority about cryptocurrency dealings in Turkey?
   Yes, businesses must report cryptocurrency activities to the Revenue Administration (GİB) each year using the Corporate Income Tax Return.

5. What happens to traders in Turkey who don’t report cryptocurrency taxes?
   According to GİB rules, failing to report can lead to fines from 50% to 300% of unpaid taxes, plus possible audits or asset seizure.