CRYPTOCURRENCY CALCULATION IN TURKEY

CRYPTOCURRENCY CALCULATION IN TURKEY

Turkey is experiencing unprecedented interest in cryptocurrencies. Here they open courses on blockchain for housewives and pensioners, the Turkish national basketball team advertises the local blockchain platform Bitci, and on TV news, along with the dollar and the euro, they indicate the rates of bitcoin and Ethereum.

According to the analytical companies Chainalysis and Kaiko, in December last year, the number of cryptocurrency transactions in Turkey exceeded 1 million per day. Polls show that one in five Turkish citizens has used cryptocurrencies.

Despite the active use of cryptocurrencies by the population, taxation of transactions with cryptocurrencies has not yet been formed in Turkey. Therefore, the general rules of taxation apply to such transactions.

At the same time, the legal status of cryptocurrencies in Turkey has not yet been determined, which gives rise to discussions regarding the subject of income for tax purposes. In this context, cryptocurrencies can be considered a “security” or “commodity”.

So, if cryptocurrencies are considered securities (for example, in the case of ICO, etc.), then they are not subject to VAT, but if the increase in value exceeds 19,000 Turkish liras in one year, then such excess will be subject to income tax.

If cryptocurrencies are considered goods, and the taxpayer is not engaged in commercial trade or business, then any profit in one year over 43,000 lire will generally be subject to income tax. If the taxpayer is engaged in commercial trade or business, the profit will be considered a commercial benefit, and cryptocurrencies will be subject to income tax, as well as VAT.

Cryptocurrency Lawyer in Turkey

The assistance of a lawyer on crypto issues in Turkey:

• legal usage cryptocurrencies
• Legalization of income received from operations with cryptocurrencies and investments in cryptocurrencies
• Mining Bitcoin and Ethereum
• Consulting on IEO _
• Taxation of the withdrawal of assets into fiat money
• Legal support of ICO and IEO projects
• Structuring blockchain companies
• Help crypto investors
• The assistance of a lawyer on investments in cryptocurrencies
• Registration of ICO / IEO / Defi and Mining

We provide full legal support for operations with cryptocurrencies, ICO / IEO, Defi registration, and mining organization cryptocurrencies. That is why you came to this page when you entered into the search engine “ cryptocurrency lawyer help”, “ cryptocurrency lawyer ”, “ bitcoin legal advice”, “ cryptocurrency help ”, “ bitcoin advice”, “ cryptocurrency lawyer advice ”, and “ blockchain ”, “legal advice on cryptocurrency and taxes”

Legal assistance in Turkey – Bitcoin and other cryptocurrencies.

Therefore, the assistance of lawyers on issues of cryptocurrencies, their mining, IEO, Defi, and other crypto projects is a set of services aimed at, which is carried out in full compliance with the current legislation of Turkey.

The most common questions for our lawyers are:

• Payment for services, works, real estate, and other assets in Turkey with Bitcoin ( BTC ) and Ethereum ( ETH ). Truth or myth?
• In which cities in Turkey can you exchange Bitcoin, Ethereum, Ripple, and other cryptocurrencies?
• How to buy goods with BTC in Turkey?

Get answers to these and other questions by calling our lawyers or leaving your phone number. Our lawyers are fluent in all trends in the settlement of cryptocurrency in the world, including in Turkey, and guarantee the most secure ways to use it.