The safe is empty, new taxes are expected

Central The management budget recorded a deficit of TL 132.5 billion in April and TL 382.5 billion in the first 4 months of the year. 60% of the budget deficit of TL 629 billion, which was planned for the whole of 2023, was realized in just 4 months. With the earthquake and the electoral expenses, this deficit is expected to grow even more. A similar additional budget made in 2022 is claimed to be inevitable, and the bill to citizens with additional taxes is claimed to be cut.

SÖZCÜ writer and tax specialist Nedim Türkmen, who made assessments on the subject, said: “Since the collection of TL 70 billion of the additional tax brought 17 thousand corporate taxpayers to meet the financial needs created by the earthquake it will not have any effect on solving the problem, new one-time additional taxes are on the agenda, they will come,” he said.

THE TAX WILL BE TAKEN AGAIN

Emphasizing that the government, which is continuing to work, will first have to make an additional budget due to severe budget deficits due to the effect of electoral economics, Türkmen noted that he predicts that additional taxes will be on the agenda when Parliament opens. in October. Turkmen said: “These taxes; Taxpayers of Income and Corporation Tax will pay a certain percentage of their 2022 returns, as additional Tax on Motor Vehicles and additional Real Estate Tax for vehicle owners.

Tax hikes begin in July

Nedim Türkmen, who affirmed that the tax increases will begin as of July with the Presidential Decision, expressed that these will be seen in many areas. Stating that there will be rate increases in the Value Added Tax and especially the Special Consumption Tax, Türkmen said: “First of all, there will be increases in the Special Consumption Tax on alcohol, cigarettes and fuel and rate increases on the Special Communication Tax. Despite all these increases; We have to say that the budget deficit will again be a very high figure by the end of the year,” he said.