Minister Şimşek: Basic Tax Rates Will Not Increase, Luxury Consumption Under Close Watch

No Increase in Basic Tax Rates Treasury and Finance Minister Mehmet Şimşek emphasized that no new increases are planned for basic tax items such as Corporate Tax, Income Tax, and VAT.
During his statements regarding the economic agenda, Şimşek stated that the current strategy is focused on minimizing tax expenditures and increasing efficiency within the system rather than raising rates.
Close Monitoring of Luxury Consumption and AI Audits To strengthen tax justice, Şimşek noted that the spending of high-income groups is being scrutinized.
This includes expenditures on yachts, luxury boats, and a close examination of credit card statements to ensure tax compliance.
The Minister also reported that artificial intelligence algorithms have been deployed to combat the use of fake invoices.
In the real estate sector, cross-checks are being conducted through city-based valuation maps to identify discrepancies in declared property values.
Investor Interest and Macroeconomic Stability Şimşek highlighted that international investor interest in Turkey has reached its highest level since 2013, indicating that the implemented economic program is yielding concrete results.
He underlined that public debt stock remains low, budget discipline is being maintained, and the disinflation process will continue with determination.
Exit from KKM and Current Account Targets The exit from the FX-protected deposit (KKM) system is being managed successfully, with the 143 billion dollar stock significantly reduced.
Şimşek noted the ongoing improvement in the current account deficit and reminded that structural transformation is essential for achieving a permanent current account surplus.
He added that Turkey deserves a higher credit rating given its falling risk premium.