Coin Edition -
- Turkey’s proposed corporate tax overhaul aims to generate $7 billion, addressing budget shortfalls post-earthquakes.
- New crypto regulations in Turkey seek to enhance security, supervise trading platforms, and align with global standards.
- The combined tax and crypto measures reflect Turkey’s strategy to bolster economic stability and adapt to financial technology.
Turkish lawmakers are set to introduce a sweeping tax overhaul, primarily targeting corporations, in an effort to shore up the national budget following last year’s devastating earthquakes.
The proposed legislation, expected to be presented to parliament this month, also includes new regulations for the cryptocurrency industry.
According to Bloomberg, the proposed changes could generate additional revenue of 226 billion liras, approximately $7 billion, or 0.7% of the nation’s gross domestic product. The draft law is anticipated to be introduced in parliament for debate later this month.
The upcoming tax overhaul represents the most significant change to Turkey’s fiscal policies in decades. The government aims to address budget deficits and enhance economic stability through a focus on corporate taxes. These new tax initiatives are part of a larger strategy to bolster public finances and aid in recovery following the severe earthquakes last year.
Turkish lawmakers are preparing to implement new regulations for the Bitcoin industry alongside changes to corporate taxation. This week, a draft measure centered on cryptocurrency regulation is anticipated to be presented to parliament. The proposed laws seek to empower the Capital Markets Board (SPK) to oversee trading platforms and improve the security of cryptocurrency transactions.
1/ Turkish lawmakers are poised to introduce a #cryptoregulation bill in parliament this week.