Turkish President Tayyip Erdogan's ruling AK Party has postponed discussions in parliament of a bill that includes changes to support investments and the country's defence industry fund following strong criticism, a senior AKP lawmaker said.
President Tayyip Erdogan © Mena Today
Turkish President Tayyip Erdogan's ruling AK Party has postponed discussions in parliament of a bill that includes changes to support investments and the country's defence industry fund following strong criticism, a senior AKP lawmaker said.
"President Erdogan has instructed us to carry out a meticulous, detailed study of the bill. God willing, we will have completed the budget talks for 2025 in December, and the bill has been postponed until after those talks," the lawmaker, Abdullah Guler, told reporters on Tuesday.
The bill, submitted to parliament last Friday, required companies and individuals to make additional contributions to the fund via their tax statements and also envisages additional fees for Turks buying and selling real estate and vehicles.
But the changes concerning credit cards - which envisage an annual contribution fee of 750 Turkish lira ($22) for cards with limits set above 100,000 lira - had prompted particularly strong criticism from consumers and economists.
Guler said last week that the bill aimed to raise revenues of 70-80 billion lira ($2 billion-$2.3 billion) for Turkey's defence industry fund.
($1 = 34.2848 lira)
Reporting by Nevzat Devranoglu
VEON, the owner of Ukraine's leading mobile operator Kyivstar, said on Monday that it plans to move its group headquarters from the Netherlands to the United Arab Emirates, in an attempt to boost visibility among Gulf investors.
Saudi Crown Prince Mohammed bin Salman is not expected to attend the Russian-hosted BRICS summit later this month, according to the Kremlin, which said the world's biggest oil exporter would be represented by the Kingdom's foreign minister.
The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.