Şimşek says broad tax-rate increases not planned for 2027
Turkey’s finance minister said general income, corporate and value-added tax rates will not rise next year, while pension plans remain unfinished.
Key takeaways
- General income, corporate and value-added tax rates are not slated to rise in 2027.
- The pension plan is unfinished and is expected to be finalized in December.
Turkey’s Finance Minister Mehmet Şimşek said general income, corporate and value-added tax rates are not set to increase in 2027. He made the statement after a parliamentary budget committee meeting.
Şimşek said work on a pension adjustment was still underway and that the plan was expected to cover all retirees. He said any increase should vary according to age and contribution days.
He said the final work would likely be completed in December and brought forward after the budget. Şimşek said he could not yet give a figure because several institutions and ministries were involved.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
