(MENAFN- AzerNews)
The ruling Justice and Development Party (AK Party) on Friday
said it had submitted a bill to the Parliament that includes
changes to support investments and Türkiye's defense industry fund,
Azernews reports via Daily Sabah.
AK Party parliamentary group chairman Abdullah Güler said the
bill envisages revenues of TL 70 billion-TL 80 billion ($2
billion-$2.3 billion) for the Defense Industry Support Fund
(SSDF).
This legislative move marks a new push by the government to
secure additional funding for defense projects, especially given
the strategic importance of drones and other defense technologies
in Türkiye's military capabilities.
The bill's text says the tax impact of inflation adjustment for
ongoing investments will be delayed during the period the
investment is being made to encourage investments and increase
predictability.
The proposed changes will also introduce additional
contributions from citizens to support the fund.
According to Güler, the proposal includes a wide range of
revenue-generating mechanisms. The key feature is the introduction
of a participation fee in the SSDF, which would be derived from
various declarations and transactions. This includes tax returns,
customs declarations, social security premium statements, and
combined declarations for monthly premiums and payrolls. For income
tax returns, 50% of the stamp duty will be allocated to the
SSDF.
The bill also imposes fees on a range of transactions:
Real estate transactions: Buyers and sellers will each pay TL
750, while other land registry and cadastral operations will
involve a fee of TL 375.
Credit cards: Holders of credit cards with a limit of TL 100,000
or more will pay an annual fee of 750 TL per card.
Notary services: Fees will be applied to various notary
transactions, including TL 3,000 for the registration of new
vehicles, TL 1,500 for the sale and transfer of second-hand
vehicles, and TL 75 for other notary-certified operations.
These fees will be categorized as service fees and directed to
the SSDF.
Güler, during a news conference to announce the proposal,
emphasized the significance of Türkiye's defense industry,
particularly in unmanned aerial vehicle (UAV) technology, stating
that the country ranks among the top three globally.
He underscored that projects within the sector are being
financed through expenditures from the SSDF, which was established
to develop a modern defense industry and support the modernization
of the Turkish Armed Forces (TSK).
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