Page 37 - TURKRptNov19
P. 37
6.0 Public Sector 6.1 Budget
On October 24, MPs from the ruling Justice and Development Party (AKP) submitted a draft tax bill which foresees a wide range of changes to the existing tax regime as well as the introduction of new taxes, such as the accommodation tax, a luxury home tax and higher tax rates for higher income groups.
According to the draft bill, the government will collect the tax directly from the revenues of tourism facilities. The new tax is to come into force in April next year. Initially the tax rate will be 1%, but it will increase to 2% in 2021.
6.2 Debt
TURKEY -DEBT
2013
2014
2015
2016
2017
2018
Sep/19
Budget: gross debt (LC bn)
586
613
678
760
876
1,067
1,239
Budget: gross debt (% GDP)
32.4
30.0
29.0
29.1
28.2
28.8
-
37 TURKEY Country Report November 2019 www.intellinews.com
