Stablecoin Payroll in Turkey

Enable stablecoin payments for your Turkish team while navigating strict lira wage requirements and digital asset regulations.

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Navigating Stablecoin Payroll in Turkey

Turkey’s high inflation and volatile lira have fueled interest in stablecoin compensation. However, regulatory restrictions require careful structuring of payroll. While all wages must legally be paid in Turkish lira, employers can offer stablecoin benefits as non-wage incentives with employee consent. This guide explains how to implement compliant stablecoin compensation in Turkey while meeting all legal and tax obligations.

Highlights

Mandatory TRY wage payments under Turkish law
Stablecoins allowed as voluntary non-wage benefits
Protect employees from lira devaluation
Save on international transfer fees
Automate compliance with Toku’s dual payment workflows

Employment Types & Stablecoin Tax Treatment

Regular Employees

Legal Requirement: Wages must be paid 100% in TRY (Labor Law No. 4857, Art. 32).
Stablecoins: Only permitted as separate non-wage benefits with written consent.
Minimum Wage: Must always be paid in TRY.

2025 Example (Jan–Jun):

Gross Minimum Wage: TRY 20,002.50

Net Minimum Wage: TRY 17,002.12

Stablecoins: ❌ Not allowed for minimum wage portion

Performance & Retention Bonuses

Can be provided in stablecoins
Must be classified as non-wage benefits
Employee consent required

Contractors (Limited Use Case)

Foreign contractors working remotely may receive stablecoins directly, but domestic contractors remain subject to TRY wage requirements.

Stablecoin Taxation Framework

Tax Event 1: At Receipt

Income Tax: 15–40% progressive, based on TRY equivalent
Stamp Tax: 0.759% on total contract value
SGK Contributions: Only on TRY wage base

Tax Event 2: At Conversion

Stablecoins treated as financial assets; capital gains taxed when sold
Exchange rate: Official Central Bank of Turkey (TCMB) daily rate used for reporting

Example Scenario:

Employee earns TRY 20,000 base + $500 USDC (as non-wage benefit)

TRY Salary taxed as wages (PAYE + SGK)

USDC reported as benefit income, taxed at income tax rates but not subject to SGK

Payroll Compliance Process

Steps:

Calculate Base TRY Salary: Ensure minimum wage is fully covered in lira
Apply SGK & Tax Deductions: Based on TRY wage only
Pay Salary via Bank Transfer: In TRY, by 7th of following month
Calculate Stablecoin Benefits: Convert at TCMB daily rate
Deliver Stablecoins: Via Toku API, with documented employee consent
Report for Tax Purposes: Declare TRY equivalent of total compensation

Integrations

Netsis

Zirve

SAP

Oracle HCM

ADP

Mandatory Wage & Contribution Requirements

Component	Employee	Employer	Notes
Income Tax	15–40%	N/A	Based on TRY wage + benefits
SGK (Social Security)	14%	20.5%	Applied only to TRY wages
Unemployment Insurance	1%	2%	Applied only to TRY wages
Stamp Tax	0%	0.759%	On contract value

Employee Consent Framework

Required Elements:

Confirmation that wages are fully in TRY
Acknowledgment that stablecoins are voluntary benefits
Understanding of tax obligations on TRY equivalent
Opt-out option available at any time

Sample Consent Statement:

"I confirm my salary of TRY [amount] will be paid in Turkish Lira. I voluntarily accept additional non-wage benefits valued at [USD amount] in stablecoins. These benefits are not wages under Turkish Labor Law, and I understand their tax treatment."

Regulatory & Compliance Framework

Central Bank of Turkey (TCMB): Prohibits crypto use in payments since 2021
MASAK: Oversees AML/KYC for crypto platforms
Capital Markets Board (SPK): Regulates digital asset exchanges
Labor Law No. 4857: Requires wages in TRY; no exceptions for stablecoins
Record Keeping: Must document exchange rates (TCMB) and benefits separation

Tax Optimization Strategies

For Employers:

Use stablecoins for bonuses/retention packages only
Automate benefit reporting with Toku API
Maintain clear wage/benefit separation to reduce SGK liability

For Employees:

Consent to receive stablecoin benefits for inflation protection
Keep detailed records of receipt/conversion values
Convert strategically to minimize lira depreciation risks

Why Toku for Turkey Payroll

Automated dual payment system (TRY wages + stablecoin benefits)
Real-time TCMB rate documentation
Built-in compliance with Turkish labor laws and SGK
Secure, transparent reporting for both wages and benefits
Integration with leading Turkish payroll and government systems

QUICK FACTS

Currency

Turkish Lira (TRY) / USDC, USDT

Population

85 million

Capital

Ankara

Languages

Turkish

Payroll Frequency

Monthly

Employer Taxes

20.5% SGK + 2% unemployment insurance

Employee Taxes

15–40% income tax + 14% SGK + 1% unemployment

Frequently Asked Questions

Can salaries be paid fully in stablecoins?

No. All wages must be paid in Turkish Lira. Stablecoins can only be used for non-wage benefits.

Do stablecoin benefits affect SGK contributions?

No. Properly structured benefits are excluded from the SGK wage base, reducing costs.

How do we ensure compliance with the TCMB prohibition?

By paying wages entirely in TRY and classifying stablecoins strictly as voluntary non-wage benefits.

How is the TRY value of stablecoins calculated?

Using the Central Bank of Turkey’s official daily exchange rate on the payment date.