Reported 11 months ago
Turkish lawmakers are proposing new tax measures primarily aimed at companies to address last year's earthquake impact on the budget, marking the largest overhaul in a generation. The proposed changes could generate an additional $7 billion in revenue, totaling 0.7% of the GDP. Plans include introducing a minimum 15% tax on multinational firms' profits in Turkey, implementing a minimum corporate tax for real estate investment trusts, and considering a 0.03% transaction tax on cryptocurrency trading in efforts to boost government income. The proposed tax reforms are part of a broader fiscal consolidation strategy led by Treasury and Finance Minister Mehmet Simsek, attracting foreign investors back to Turkey’s debt market despite some criticism.
Source: YAHOO