If you can afford it, collect taxes from the upper class.

Constitution After the Supreme Court (AYM) unanimously rejected the request for annulment of the legal rule that provides for the collection of additional Motor Vehicle Tax (MTV); Debates about tax justice are growing in Türkiye. Economist Prof. Dr. Oğuz Oyan called for economic management through SÖZCÜ Television, pointing out that in addition to the protection of Protected Exchange Rate Deposits (KKM) against exchange rate increases, taxes are not even collected from these accounts.

NO TAX FOR KKM

Stating that the proportion of income tax paid by wage earners, which reached 26 percent of national income in Turkey by the end of 2022, is 85 percent, Oyan said: “In other words, the tax paid has a proportion of more than three times the proportion of national income. This is not law, nor justice nor is it in the Constitution. Are they going to collect taxes? Let’s call the Central Bank and Mehmet Şimşek. If you can afford it, collect taxes from society’s highest-income capital owners or the creamy 20 percent of the population. “And we welcome this monetary and fiscal adjustment that you have implemented together,” he said. Stating that it is against the Constitution to tax the lower-middle and middle segments with a ‘wealth tax’ like in the additional MTV, Oyan said: “Let us collect this wealth tax from those who have deposits of more than 10 million of liras”. You don’t even receive taxes from KKM, the KKM owner is not only protected against the exchange rate but also against taxes. You exclude it from any Income Tax withholding. More than half of those who hedge exchange rates are commercial companies, we are not just talking about households. “KKM is used heavily by the corporate sector,” he continued. Oyan excludes those who are looking for ways to escape the inflationary spiral and want to increase demand in an inflationary environment, and focuses on luxury consumer spending, such as
He argued that those who turn to the luxury car segment should pay severe taxes.

They tried to win the elections at the cost of ruining the economy

Teacher. Dr. Oğuz Oyan claimed that the government tried to win the elections “at the cost of ruining the economy” and said: “The burden of deposits protected by the exchange rate, the depleted reserves of the Central Bank, the high inflation, all the enormous “external debt that increased during the AKP period. The main reason for Turkey’s current financial deficit is the wrong policies implemented by Turkey. That is why the Minister of Finance undertakes international expeditions in search of loans and money,” he stated.

The West does not seem enthusiastic and will undertake the fourth tour of the Gulf

Teacher. Dr. Oyan made the following assessment on the investor meetings held by Minister of Treasury and Finance Mehmet Şimşek and CBRT Chairman Gaye Erkan in international markets: “The first way to solve the financing problem is to find ‘lowest possible money’, the The second way is to find ‘hot money’.” The third way is to attract direct capital investments. The West does not seem very enthusiastic about foreign direct investment. Therefore, the trip to the Gulf countries will be the fourth. “Lightning wanders again and again.”

Borrowing at 9 percent would lead the country to default

TürkiyeNoting that Spain’s credit risk premium (CDS) remains high, around 400 points, Prof. Dr. Oğuz Oyan continued his words as follows: “Turkey has a borrowing cost in international markets that does not falls below 9 percent in dollar terms. This is a very high cost. A country can fall into default, that is, not be able to pay its debts, with these interest rates. So since we don’t print dollars, this is a very high cost. Therefore, to eliminate Turkey’s financial deficits, the debt and other issues of the developed capitalist countries of the world are sought.
“They are going to provide money.”