Taxation of option transactions

Options are handled within the framework of derivatives markets. Derivative product is a transaction that foresees the future delivery of an agreed product from today. Option transactions are also based on this logic. Option contracts are those contracts that give the buyer the right to buy or sell the asset of a price, quantity and quality previously agreed at a future date. The party receiving the option pays a certain amount to the seller to obtain this right, which is called the option premium. Options are traded in organized markets, the main features of which are contractual elements standard and clearing room guarantee. Options in our country could not find a common use. The most important reasons for this are the complex structure of the system, the lack of adequate publicity and the lack of taxation in our tax system for many years. There is no explicit regulation on the taxation up to Temporary Article 67 of the Turkish Tax System. Options are generally used by investors for risk management, arbitrage, speculation and return. In this study, the emergence phases, historical development and objectives of option markets are examined. Within the scope of the scope, the concept of derivative product, its development, history and characteristics of the market are explained. The last section described the legal dimension of the option, option transactions are examined in terms of tax and suggestions were made regarding effective use in Turkey. Key Word: Option, Clearing Hause, Option Premium, Tax, Risk Management.