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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
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ISTANBUL Turkey Istanbul
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stoke - 1 Official Gazette - 1 Bank Insurance - 1 Oyak Investment - 1 Istanbul bourse - 1 Thomson - 1

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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
☆ Turkey annual inflation to ease to 66.8% in December, 43.2% a year later - Reuters poll
  + stars: | 2022-12-28 | by ( ) www.reuters.com   time to read: +3 min
ISTANBUL, Dec 28 (Reuters) - Turkey's annual inflation is expected to fall sharply to 66.8% in December due to a favourable base effect but drop only to 43.2% by the end of 2023, a Reuters poll showed on Wednesday, while monthly price rises should remain elevated. In the Reuters poll of 12 economists, the median estimate for annual December inflation was 66.8%. Prices continue to rise sharply month-to-month with the median estimate at 2.7%, in a wide range of 1.40% and 4.10%. However, economists see inflation dropping only to 43.2% by end-2023, according to the median estimate of eight economists in the Reuters poll, with forecasts ranging between 33% and 48%. The Turkish Statistical Institute is scheduled to announce December inflation data at 0700 GMT on Jan. 3.
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