Turkish Finance Minister announces tax overhaul, prioritizing fairness and direct taxation

Speaking about the proposed amendments to tax laws, Şimşek emphasized the government's commitment to fiscal discipline and fairness in taxation. "We have crafted this tax package with the principle of taxing more from those who earn more and less from those who earn less. It excludes provisions impacting low-income individuals,” he stated.

The package seeks to enhance tax justice, introduce measures affecting capital, and increase the proportion of direct taxes. It is currently under review by the Grand National Assembly of Turkey.

The proposed reforms come amidst efforts to strengthen Türkiye's fiscal policies and ensure equitable distribution of tax burdens across different income brackets. (ILKHA)