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Tax hikes to add around 28 bln lira to Turkish budget in 2018 -finance minister
September 27, 2017 / 2:10 PM / 2 months ago

Tax hikes to add around 28 bln lira to Turkish budget in 2018 -finance minister

ANKARA, Sept 27 (Reuters) - Turkey’s new tax measures announced on Wednesday within its three-year economic programme will add 27-28 billion lira ($7.5-$7.8 billion) to budget revenue next year, Finance Minister Naci Agbal told Reuters.

The government will increase the financial sector’s corporate tax rate by 2 percentage points to 22 percent and raise the motor vehicle tax on passenger cars by 40 percent.

Agbal said that the new tax measures aimed to widen the fiscal space by creating permanent income channels, adding that the most important issue was taking a sound stance against geopolitical and economic risks.

$1 = 3.5761 liras Reporting by Orhan Coskun; Writing by Ece Toksabay; Editing by David Dolan

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