The Turkey Government Intends To Amend The Tax System.

According to Hurriyet Daily News, Mehmet Mus, the deputy leader of the ruling AK party, said that the party would submit a draft amendment to the tax system, including the highest level of personal income tax (more than 100 thousand Turkish lira). The tax rate will rise from 30% to 40%, and the athletes' tax allowance will be deleted. "Daily"

M deputy party chief said that the purpose of the amendment is to increase taxes on the rich and lower the tax burden on the lower income people, and the tax level will be increased from 4 to 7. There are 45 provisions in the revised draft, which will be submitted to the Turkey Parliament for trial.

M vice chairman added that the bill allows Turkey president to lower profits tax on listed companies to encourage more companies to go public. In addition, the hotel accommodation tax will be increased in the draft. If approved by the Congress, it will be imposed on April 2020, with a tax rate of 1% and a tax increase of 2% in the next year.

The draft also proposes Taxation on high value real estate, which is divided into 3 levels: value over 10 million lira, 7 million 500 thousand to 10 million lira, 5 million to 7 million 500 thousand lira, 1%, 0.6% and 0.3% respectively.

Other digital services and sales video games, music, social media and advertising will also become taxable objects. Regarding the foreign exchange sales tax, the tax rate will be raised from 0.1% to 0.2%, and the president will be given the right to raise the tax rate.