Minister Şimşek on Tax Increases: "Not on Our Agenda"

Global Economy and Growth Expectations Treasury and Finance Minister Mehmet Şimşek stated that the global economy has demonstrated a resilient stance despite current uncertainties and flaws in the systemic architecture.
Recalling that the world economy grew by 3.2 percent last year, Şimşek noted that developing countries have gained faster growth momentum and that global risk appetite remains strong in parallel with this growth.
External Balance and Energy Prices Emphasizing that the external deficit is Turkey's most sensitive economic point, Minister Şimşek noted that the improvement process in the external balance has begun.
Expressing expectations for a decrease in energy prices as regional tensions—particularly uncertainties regarding Iran—subside, Şimşek stated that this situation would positively reflect on Turkey's disinflation and growth targets.
Inflation and Tax Policies Stating that the disinflation program is being implemented with determination, Şimşek said that returning inflation to pre-shock levels requires a process of 3 to 4 years.
He noted that the high figures in January and February were due to seasonal effects, and from March onwards, data could fall below historical averages.
Addressing tax policies, the Minister emphasized that they do not plan to increase Corporate Tax, Income Tax, or VAT.
Instead, the focus is on reducing tax expenditures and ensuring tax justice.
Şimşek added that for the first time in a long period, the ratio of indirect taxes to total taxes has decreased.
Audit and Transparency Efforts Stating that new steps have been taken to combat the informal economy, Şimşek announced that monitoring programs for high-income groups are ongoing and projects such as a nationwide housing valuation map are being carried out.
Furthermore, he stated that audits will be tightened to prevent practices such as the use of irregular invoices and that there will be no compromise on fiscal discipline.