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