What will be the effect of the last VAT proposal on the budget?

what will be the effect of the last vat proposal on the budget 0 R47PWdr3

An additional income of 6.5 billion TL is targeted with the bill submitted by the AK Party to the Parliament, which envisages the sale of Treasury immovables and amendments to the VAT law.

It is planned that the highest income will be 3 billion TL, by applying 25 percent tax to the corporate earnings of the financial sector.

According to the evaluations included in the impact analysis report prepared for the proposal, which is still under discussion at the Plan and Budget Committee of the Grand National Assembly of Turkey, and analyzed by Bloomberg, the corporate tax rate for some companies operating in the finance sector will be 25 percent instead of 23 percent for 2022. A revenue impact of TL 3 billion is expected.

With the bill, it is aimed to permanently increase the corporate tax rate to 25 percent in the finance sector. The corporate tax rate was tentatively set at 23 percent for 2022 before the law and would drop to 20 percent next year.

It is anticipated that 150 Million TL of income will be obtained by selling the areas registered in the name of the Treasury in the title deed, out of the forest borders on the grounds that there is a settlement on them, to the beneficiaries, and 37.5 Million TL of this will be collected this year.

With the extension of the application period for the sale of the treasury immovables on which the structures for which the Building Registration Certificate is obtained, and the reduction in cash payments, it is planned to generate 900 million TL revenue, of which 225 million TL will be collected this year.

750 million TL is expected from the sale of public residences

412.5 Million TL in 2022, a total of 1 Billion 650 Million TL revenue is expected to be estimated.

It is aimed to collect 5 million TL in total and 1.25 million TL for this year by leasing the agricultural lands belonging to the Treasury to their users.

The government is targeting an income of 750 million TL from public housing sold or to be sold this year and next year. According to the plan, 187.5 million TL of this money will be collected this year.

President Recep Tayyip Erdoğan said that mukhtar salaries would not be left below the minimum wage . It is estimated that the decision not to make allowances for mukhtars below the net minimum wage will bring an additional burden of 236 million TL to the budget


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