Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Authorities launched a tax audit targeting Cengiz Holding, a prominent pro-government conglomerate, but the decision to move the case from Istanbul to Ankara has raised questions. The group is also facing fierce environmental backlash over its partnership in the COP31 climate summit.
The government has officially ended its sliding scale tax mechanism on fuel, triggering an immediate price hike at the pump.
The government will discontinue its 'sliding scale' fuel tax offset mechanism at the end of 2026, shifting focus toward boosting budget revenues ahead of potential elections in 2027 or early 2028.
The pro-government newspaper Yeni Şafak devoted its entire front page on Sept. 9 to a scathing critique of Finance Minister Mehmet Şimşek and his policies, urging immediate shifts including tax overhauls and fuel subsidies.
The Finance Ministry has finalized preliminary work to redirect short-term capital inflows toward long-term, productive investments, according to a report by Bloomberg HT.
The Turkish government has temporarily eliminated the special consumption tax on diesel fuel for the remainder of August in an effort to curb inflation. Pump prices fell by more than 13 percent a day after the government’s decision on Aug. 12.
The parliament’s Planning and Budget Committee has approved an omnibus bill introducing significant tax incentives to boost nuclear energy investments.
The Revenue Administration has announced the top income taxpayers in 2024, with most names once again kept confidential. For the fourth year in a row, Baykar Chair of the Board Selçuk Bayraktar, who is also President Recep Tayyip Erdoğan’s son-in-law, ranked first, paying 2.77 billion lira in income tax.
Parliament has passed sweeping tax exemption measures for goods, services, and imports tied to the country's hosting of the 31st Conference of the Parties (COP31) to the UN Framework Convention on Climate Change, scheduled to take place in Antalya from November 9–20.
The AKP submitted a 15-item proposal to parliament as it pushes ahead with incentives to lure foreign investment and cash repatriation.
Turkey has reintroduced the “sliding scale mechanism” to prevent dramatic pump hikes from feeding inflation after the Iranian War pushed global oil prices higher.
All gold will be sold with a tax label under the Precious Metal Tracking System (KMTS) to be launched in April by the Mint, which is affiliated with the Treasury and Finance Ministry.