Tax
Tenants to be given more rights with latest Code
A draft bill to overhaul the Code of Obligations, which has been in effect with some minor amendments since it was first passed in 1926, has been completed in Parliament’s Justice Commission after a month of deliberations and discussions.
The code covers transactions between civil contracting parties, such as creditors and debtors, but deal […]
SGK to collect more premiums via ‘VIP employer’ project
As a way to lessen the impacts of the global financial crisis, the Social Security Institution (SGK) will soon launch a “VIP employer” project, similar to the Treasury’s “big taxpayers” service, in an attempt to expedite the collection of insurance premiums and address the problem of unregistered employment.
The institution will set up 12 […]
Turkey ranks first among OECD countries with its unregistered economy
Turkey ranked first among the members of the Organization for Economic Co-operation and Development (OECD) with its unregistered economy.
While the average unregistered economy is 18 percent in the OECD, Turkey’s unregistered economy stands at 32.1 percent.
The unregistered economy in Greece is 28.6 percent, in Italy 27 percent, in Germany 16.3 percent and Switzerland […]
Gov’t embarks on new plan to eradicate unregistered economy
The government has prepared and is about to put into action a wide-ranging and challenging action plan to eliminate the unregistered economy, which is accepted as seriously affecting the Turkish economy. More than 40 percent of the labor force is illegally employed in Turkey.
Some of the measures in the Action Plan against the […]
Turkey’s tax champ: Istanbul
When it comes to paying taxes, more money comes out of the pockets of Istanbul residents than any other Turkish citizens.
Every YTL 43 out of 100 in tax was collected in Istanbul, according to data collected by the Finance Ministry’s General Directorate of Public Accounts.
Apart from Istanbul, Kocaeli, Ankara and Izmir are also among the […]
Turkey’s disappearing tax payers
An unbelievable statistic today - but wahey - this is Turkey. In spite of an estimated annual population increase of more than 1 million people a year and a steadily growing economy over the last 5 years, the number of registered tax payers in Turkey has actually fallen from 6.5 million people in 2003 […]
Goodbye to the bridge toll booth
I am slightly suprised by this but apparently the Prime Minister has announced the withdrawal of the toll booths on the bridges. There is probably some other means of detection though so I am not that excited. The toll booths really do cause a traffic problem though and won’t be missed.
Foreign investors retain withholding tax exemption
Undersecretary of Finance, Hasan Basri Aktan announced earlier this week that the government has no intention of annulling withholding tax immunity for foreign investors in Turkey and that investors should have no doubt about the continuation of the exemption.
The government had decreased the withholding tax rates to nil for foreign investors but kept the rate […]
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