Government Lacks Tax Revenue Estimates Ahead of Crypto Income Tax Implementation

With the implementation of virtual asset income taxation set for January 2027, just three months away, it has emerged that the government has not estimated expected tax revenue or even administrative costs associated with the tax. This means over 13 million virtual asset investors will be subject to tax obligations without sufficient assessment of fiscal impact or administrative burden.

According to a report by Idata on November 14, both the Ministry of Finance and Economy (MOFE) and National Tax Service failed to provide estimates for expected tax revenue effects or administrative costs related to the 2027 virtual asset income tax implementation. MOFE stated that initial reporting will occur in May 2028, making reasonable estimation of post-2028 tax revenue impossible. The National Tax Service also noted they lack pre-tax reporting data, making independent tax revenue estimation difficult.