Turkish President Recep Tayyip Erdogan attends a press conference with Serbian President Aleksandar Vucic in Belgrade, Serbia, Friday. [Zorana Jevtic/Reuters]
Turkey’s ruling AK Party has proposed a bill to raise €2 billion annually for the defense industry fund, aiming to support and develop the sector, as per Abdullah Guler, the chair of the party’s parliamentary group.
The bill includes measures to encourage investment and additional contributions would be made by companies and individuals based on tax statements and credit card limits.
It also suggests introducing taxes on transactions like real estate and car sales, as well as special consumption taxes on specific products like drones and luxury watches.
The draft bill aims to enhance predictability by delaying the tax impact of inflation adjustments on ongoing investments.