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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

EYG no. 001748-19Gbl

Download this Tax Alert as a PDF file.

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