The Revenue Administration has decided to inherit Bitcoin. Accordingly, Bitcoin heirs will be able to inherit Bitcoin by submitting a declaration and paying tax.
Bitcoin and in general laws on cryptocurrencies not fully settled yet. Almost every country makes different decisions on this matter. For example, countries like Russia and China consider cryptocurrencies as virtual assets.
Earlier Finance, Capital Markets Board and Central Bankmade evaluations on how to classify cryptocurrencies. Since the issue of how cryptocurrencies will be positioned continues to be a matter of debate, it cannot be determined according to which laws to evaluate.
No tax without naming:
In order for something to be legally taxed, that thing determination of the type must. Commodities, securities, and even foreign exchange transactions, which we often hear about in economy bulletins, which actually mean “good to sell”, are taxed in different ways.
The category of cryptocurrencies is currently controversial. Between the CMB, the Ministry of Finance and the Central Bank there is a difference of opinion. On the other hand, it was recently said that Bitcoin may tax primarily cryptocurrencies.
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Bitcoin’in Inheritance and Gift Tax within the scope of It was decided how to handle it. The decision taken on the subject was made by Professor of Accounting Professor at Bahçeşehir University. Dr. Fatma Ulucan Özkul shared it on her Twitter account.
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Prof. Dr. Özkul on Twitter “Within the scope of Inheritance and Gift Tax, #bitcoin inheritors can pay the tax accrued by submitting a declaration, and in case of not submitting a declaration, the institution that keeps the bitcoin 5% withholding and the remaining amount to be paid to the heirs was deemed appropriate by the Revenue Administration. “ used the expressions.
Until there is a legal framework, a legislation is prepared The status of cryptocurrencies, especially Bitcoin It seems that it will continue to be the subject of discussion. What do you think is Bitcoin: money, commodity or securities?