Turkey Studies New Taxes Worth $7 Billion That Target Corporates
- Government weighs one of largest tax overhauls in two decades
- Turkey is seeking to fix budget hit by last year’s earthquakes
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Turkish lawmakers have drafted new tax proposals aimed mostly at companies, seeking to repair a budget buffeted by last year’s earthquakes, in what would be the biggest overhaul in a generation.
The plans would imply additional revenue of 226 billion liras ($7 billion), equal to about 0.7% of gross domestic product, according to a person with direct knowledge of the matter, who asked not to be identified because the matter is private. New legislation is now being drawn up for discussion in parliament toward the end of this month, the person said.