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Top related persons:
Tayyip Erdogan - 1 QNB Finansbank - 1 Erdogan - 1 Economists - 1 Ezgi Erkoyun - 1 Burcu Karakas - 1 Orhan Coskun - 1 Jonathan Spicer - 1
Top related locs:
ISTANBUL Turkey Istanbul
Top related orgs:
stoke - 1 Official Gazette - 1 Bank Insurance - 1 Oyak Investment - 1 Istanbul bourse - 1 Thomson - 1

Search resuls for: "Bank Insurance"


2 mentions found


☆ Turkey hikes tax rates to reduce budget deficit
  + stars: | 2023-07-07 | by ( Ezgi Erkoyun Burcu Karakas | Ezgi Erkoyun | Burcu Karakas | ) www.reuters.com   time to read: +3 min
The VAT rate charged on goods and services rose to 20% from 18%, while that on basic goods such as toilet paper and detergents increased to 10% from 8%, effective immediately, the Official Gazette said. "Reducing the budget deficit is the aim of the latest increase in taxes and fees, and some other steps to ensure fiscal discipline are on the agenda too. The tax increases could raise Turkey's budget revenues by around 2%, Oyak Investment said in a note. Economists said the increased VAT rate charged on goods and services would boost state revenues by around 30 billion lira. Separately, Turkey on Friday also exempted from witholding tax the dividend payments of own shares purchased by companies listed on the Istanbul bourse.
Persons: Tayyip Erdogan, QNB Finansbank, Erdogan, Economists, Ezgi Erkoyun, Burcu Karakas, Orhan Coskun, Jonathan Spicer, Gareth Jones Organizations: stoke, Official Gazette, Bank Insurance, Oyak Investment, Istanbul bourse, Thomson Locations: ISTANBUL, Turkey, Istanbul
☆ F.D.I.C. Proposes Broadening Bank Insurance for Businesses
  + stars: | 2023-05-01 | by ( Alan Rappeport | ) www.nytimes.com   time to read: +1 min
officials acknowledged on Monday that those bank runs caught them by surprise. As part of a review into what took place, the regulator has been studying ways to improve the system. Its report looked at the viability of raising the existing insurance cap; expanding it so that deposit insurance is unlimited; and creating a more targeted approach that would provide higher levels of deposit insurance to business accounts that are used for payroll processing. expressed concerns that broadly expanding deposit insurance could create “moral hazard” problems, that is, banks would be shielded from the consequences of making risky investments. It favored offering more protection to business payment accounts because that money is generally used for paying employees rather than investments.
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