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Turkish lawmakers have drafted new tax proposals aimed mostly at companies to repair the budget impacted by last year’s earthquakes. The Turkish Ministry of Finance is considering a 0.03% transaction tax on cryptocurrency transactions to cope with the budget deficit caused by the earthquake and increase fiscal revenue. This proposal is expected to be discussed in parliament soon. Additionally, Turkey has postponed plans to introduce taxes on stock trading after receiving pushback from traders. Turkish President Recep Tayyip Erdogan has announced measures to reduce inflation to single digits, with expectations of an improved inflation outlook in the final quarter of the year due to steps taken on interest rates.
#TurkeyWatch🇹🇷: TURKEY HAS TURNED THE CORNER ON INFLATION. I use high-frequency data to measure Turkey’s inflation. It LEADS the official inflation measure. Today, I measure Turkey’s inflation at 41%/yr, well below the official rate of 75%/yr. THE OFFICIAL RATE WILL HEAD DOWN. https://t.co/lxV6NwR43K
JUST IN: Turkey 🇹🇷 is considering a 0.03% transaction tax on crypto trading as part of a major fiscal reform to address the economic impact of the earthquakes that devastated the country in February, 2023. https://t.co/QflTupJ2Az
JUST IN: Turkey 🇹🇷 is considering a 0.03% transaction on crypto trading as part of a major fiscal reform to address the economic impact of the earthquakes that devastated the country in February, 2023. https://t.co/YN30ZrMuxf