18.03.2025 08:51
With the new decision published in the Official Gazette, a Currency Transaction Tax will be applied to gold purchases. In this new application, which will be valid through banks, the rate will be reflected to the buyer as 0.2%.
A change that closely concerns the gold market has been implemented with today's issue of the Official Gazette. Transactions involving the purchase and sale of gold from banks will be considered foreign exchange transactions and will be subject to a Currency Transaction Tax (CTT) of 0.2% (2 per thousand). This situation will directly affect gold purchase and sale transactions.
VALID FOR NON-PHYSICAL PURCHASES
According to the Presidential Decree published in the Official Gazette; starting from March 17, 2025, transactions involving the sale of registered gold without physical delivery through demand accounts will be considered foreign exchange transactions. A Currency Transaction Tax (CTT) of 0.2% (2 per thousand) will be collected on these transactions.
START OF CTT TAX IN 2023
On the other hand, this application initiated by the Revenue Administration's letter dated 21.05.2020 was canceled by the decision of the 7th Chamber of the Council of State dated 28/03/2023 and numbered E: 2020/1362; K: 2023/1758, after 3.5 years. This new tax, which will be applied to gold purchases again today, marks the beginning of a new era in the gold markets.