Turkish finance minister plans strategies to reform tax system
(MENAFN) On Monday, Turkish Finance Minister Mehmet Simsek announced that the government is working on developing the tax system to increase revenues by targeting tax avoidance and phasing out ineffective incentives, rather than raising the overall tax burden. Simsek noted that the initial draft proposals under discussion include a minimum tax rate of 15 percent for multinational companies. However, he did not provide further details about this proposal. Currently, multinational companies in Turkey are subject to varying tax rates based on several factors.
Simsek, who has been leading a year-long monetary tightening program to combat high inflation, emphasized that the tax policy plan is still in its early stages and may undergo changes before it is presented to parliament for approval. This initiative aims to enhance the efficiency and fairness of Turkey's tax system without increasing the general tax load on businesses and individuals.
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