Turkey may cut corporate tax rates, minister says
Turkey is working on corporate tax cuts in some strategic sectors in order to boost investment in the real sector, Finance Minister Naci Agbal said on July 24. Agbal said work on the tax cuts had not yet been finalized as the Finance Ministry was still evaluating sectors and potential rates. He added: “Indirect taxes on tobacco, alcoholic beverages and automobiles are too high. We will not make hikes in indirect taxes in 2017. Agbal added that comprehensive reform would be realized in the country’s value-added tax law, adding that the government had started to canvass opinion from leading business associations to revise the 32-year-old law.