An additional tax has been introduced on gold buying and selling transactions through banks. A currency exchange tax of 0.2% will now be applied to these operations. The collection of additional tax on gold transactions through banks has commenced. The decision was published in the Official Gazette dated March 14th and officially came into effect on March 17th. Accordingly, gold sales transactions made through demand deposit accounts without physical delivery will be considered as currency transactions. A currency transaction tax (CTT) of 0.2% will be levied on these transactions. Banks have also sent information messages to their customers regarding the implementation. PREVIOUSLY CANCELLED The tax rate on currency transactions had started to be implemented as 0.1% as of May 15, 2019. This rate was increased to 0.2% in May 2020. The Council of State had cancelled the decision of the Revenue Administration on March 28, 2023.