Breaking news! The proposed amendments to the Tax Code and certain other laws have been passed by the Planning and Budget Committee of the Turkish Grand National Assembly.
Article 53 of the bill will raise the minimum pension from 10,000 lira to 12,500 lira.
Minimum pension regulations will increase pensions for 3.7 million people.
Those with the lowest pensions will receive a salary of 12,500 liras in August, plus the difference of 2,500 liras for July.
The cost of this budget increase will be 33.2 billion lira.
The five-point support bonus paid to employers for retiring employees who remain in the same workplace, as discussed in the EYT, will be abolished.
The tax will increase the international departure fee from 150 to 500 liras, with the fee increasing annually according to the revaluation rate.
Within the scope of tax regulations, a minimum corporate tax rate of 15% is levied on the profits of global companies operating in Turkey.
Tax levied from public-private partnership enterprises will be increased to 30 per cent from 25 per cent.
The proposal would also introduce measures to prevent informality and fraud. Taxpayers’ income, such as self-employed income for doctors and dentists, and commercial income for restaurants and cafes, will be determined at a particular time of the year. Those with a difference of more than 20% between their determined income and their declaration will be asked for an explanation.
Tax loss penalties imposed on employees who are not registered, i.e., who operate without the knowledge of the tax authorities. A penalty of 1x tax is 1.5x, and a penalty of 3x tax is 4.5x.
If you use someone else’s credit card or POS terminal, a special fraud penalty of three times the amount will be applied. In this regard, the total amount of special fraud penalties imposed within a calendar year cannot exceed 20 million liras. The same penalties will be imposed if you allow someone else to use your device.
Penalties for misconduct imposed within the scope of the fight against informality will be strengthened.
The amount of the penalty applied increases for the repetition of some acts. The fine of 3,400 liras, which applies for not receiving and sending invoices and not issuing receipts for payment recording devices, is applied as 10,000 liras in the first ruling. The penalty is increased in subsequent decisions.
