Turkey’s government to increase corporate tax to 22 percent

Turkish government has decided to take additional fiscal measures to balance its budget. The government, which is seeking to launch a new attack in economy with the “Medium Term Economic Program” has begun to force all sources of income.

In the meantime, the administration has not neglected the most important source for revenues, of course; Taxation. After some major tax hikes in many items, it seems that the citizens will have to say good bye to an important portion of the money in their pocket.

More over, the government, which does not seem to be satisfied with this much has also decided to increase the tax rates of the institutions from 20% to 22%.

Now the question is; “Will these measures be good enough to stimulate the economy which is not based on production in the positive direction or could it be the other way round to the surprise of the administration.  Let us wait and see…