Finance minister: Tax hike to boost Turkey's defense spending

[Pax Ottomana]

Turkey's new tax measures aim to boost defense spending amid increased geopolitical risks, Finance Minister Naci Ağbal said Thursday.

"The tax raises will be transferred directly to the defense industry fund as the fund is not a part of the central government budget," Ağbal said in a speech at the Istanbul Financial Summit.

The government on Wednesday announced new tax measures which aim to add TL 28 billion ($8 billion) to the revenue budget in 2018, in line with the Medium Term Program (MTP). The program targets an annual growth rate of 5.5 percent for 2018-2020.

According to the measures, the government will allocate an additional TL 8 billion of its existing revenues toward defense spending in order to increase the country's military power in the region.

Ağbal said that the defense industry's share in income and corporate taxes will be increased to 6 percent from the current level of 3.5 percent through the new measure.

"We are working on a legal regulation which will provide the basis for allocating a part of motor vehicle taxes directly to the fund," Ağbal added.

https://www.dailysabah.com/defense/...er-tax-hike-to-boost-turkeys-defense-spending

 

[Kiryu]

Trim back the diyanet.

 

[monitor]

Very good decision. Without strong self reliant defence industry you can't expect peace and stability. Turkey situated in such volatile region a strong military is much securing national interest.

 

[Pax Ottomana]

Pay up, people! Turkish Military needs your money.

Hadi bakalim beyler, pamuk eller cebe. Askerlik ne kadar vatan borcuysa, vergi de o kadar vatan borcu.

 

[Deliorman]

Only God knows where those taxes will really end up... And knowing how money are spent and how clear and visible are the the procedures in Turkey I somehow doubt it that all of those money will be spent on developing weapons.

If they wanted to boost defense spending so much they could have reduced the money they waste on the refugees, on feeding tens of thousands of loyal leeches in the administrations and the Diyanet, they could have reduced the money they spend on new cars and luxuries for them all too. They could have fought the contraband on our borders, they could have fought gray economy in Turkey and stop letting millions of using water, electricity and public services for absolutely free.

Only from those things Turkey loses billions upon billions of dollars every year but it’s much easier to increase the taxes on the workers and the good taxpayers.

 

[Oublious]

They have to spread the taxes, our economy is dependent on taxes from goods. Let the people in Turkey pay more taxes from ther salary or services. If you pay more taxes spreadnot only on goods, if i tell you we pay money to shit or for our garbage in the Netherlands.

 

[Pax Ottomana]

They have to spread the taxes, our economy is dependent on taxes from goods. Let the people in Turkey pay more taxes from ther salary or services. If you pay more taxes spreadnot only on goods, if i tell you we pay money to shit or for our garbage in the Netherlands.

Agreed. We pay ridiculous taxes in the US and Canada too. Also, everything is renewed periodically (for example drivers licenses every 8 years which costs around $100) plus just about any activity requires a permit (for example hobby fishing, which is about $30 for a monthly pass). In Istanbul you can just grab your fishing rod and go set up by the Bosphorus and fish as much as you want no questions asked. For free.

 

[hussain0216]

Good plan

 

[Kamil_baku]

Really good plan.. basically Turkey can double its military spending next year..
All those innovations made but Turkey has not much money to make the orders and move on.. lets do ittt

 

[T-123456]

Bs ridiculous plan,40% increase in taxes,never heard of.
If you increase taxes,you do it slow,at most 5% a year,not like this.

 

[Yatağanlı]

At the same time Diyanet's budget increases with 20%...... for useless luxury and prestige projects