October 13, 2017 / 1:15 PM / 9 days ago

Turkey trims planned motor vehicle tax hike to 15-25 percent in draft law

ANKARA, Oct 13 (Reuters) - A Turkish parliamentary commission on Friday accepted a proposal by ruling AK Party deputies to reduce a planned hike in motor vehicle tax to 15-25 percent from an initial 40 percent proposed in a draft law.

Turkey also decided to withdraw from the bill a proposed increase in one income tax bracket to 30 percent from 27 percent as of 2018.

The initial proposals had drawn a backlash from the public when they were announced last month. The government announced last week that the increased taxes would go towards developing Turkey’s defence industry. (Reporting by Nevzat Devranoglu; Writing by Ali Kucukgocmen and Ezgi Erkoyun; Editing by Daren Butler)

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