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10 April 2019

Turkey announces new economic reform package with new set of tax reforms

On 10 April 2019, Turkey’s Treasury and Finance Minister Berat Albayrak announced a new economic reform package with a new set of upcoming tax policy changes.

Accordingly, under this package, Turkey will take steps to ensure fair taxation on higher income groups and steps that will have a minimum effect on inflation.

Minister Albayrak stressed the importance of a taxpayer-centered system, stating that through a taxpayer-friendly system, all processes would be optimized. Furthermore, Minister Albayrak announced plans of establishing a kind of economy that prioritizes high-added value, based on exports and technology.

Some highlights of the new economic reform package are:

  • Decrease in current exemptions stated in the tax law
  • Gradual decrease in the corporation tax rate
  • Spreading the tax declarations
  • Introduction of new progressive tax system
  • Facilitation of entrepreneurship
  • Voluntary compliance with tax system
  • Prevent false or misleading documentation
  • Establishment of Taxpayer Rights Executive Board
  • Making Taxpayer Rights Declaration binding
  • Determination of the procedures and principles of right to listen (to the taxpayer)
  • Continuous measurement of the taxpayers’ satisfaction

For additional information with respect to this Alert, please contact the following:

Kuzey Yeminli Mali Müsavirlik ve Bagimsiz Denetim A.S. Istanbul
  • Ates Konca | ates.konca@tr.ey.com
  • Gamze Durgun | gamze.durgun@tr.ey.com

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Document ID: 2019-5504

 
 

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