07.10.2025 09:00
The Ministry of Treasury and Finance announced that steps will be taken to lighten the tax burden on low-income individuals and to impose higher taxes on high-earning companies. In this context, the corporate tax rate has been increased to 25%, while the rate for the banking and finance sector has risen to 30%. A minimum tax of 15% has been introduced for multinational companies, and 10% for domestic firms.
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The Minister of Treasury and Finance, Mehmet Şimşek, announced that new regulations have been implemented to ensure justice in income distribution and to reduce the tax burden on low-income citizens. Minister Şimşek stated that a comprehensive tax reform aimed at increasing the share of direct taxes in the economy is ongoing.
RELIEF FOR LOW-INCOME, SUPPORT FOR TRADESPEOPLE AND FARMERS
ACCORDING TO A NEWS REPORT IN TURKEY NEWSPAPER; Şimşek reminded that important steps have been taken to protect citizens with low income in response to written questions posed by members of parliament.
He emphasized that the minimum wage has been exempted from taxes, 850,000 tradespeople subject to the simple tax regime have been exempted from income tax, and the scope of the tradesperson exemption has been expanded.
Additionally, he stated that VAT on feed and fertilizer has been reduced to zero to support farmers, a reduced VAT application has been introduced for agricultural machinery and irrigation systems, and electricity deliveries provided to agricultural subscribers have also been included in this scope. He also added that the income tax deduction from support payments made to farmers has been abolished.
Şimşek noted that the VAT rate on basic food products is 1%, while it is 10% in the health, education, food and beverage, tourism, and clothing sectors, and that the same rate applies to electricity used in residences.
NEW REGULATIONS IN CORPORATE TAX
Minister Şimşek announced that the corporate tax rate has been increased to 25% to raise the share of direct taxes, and that a corporate tax of 30% is levied on profits obtained from banks, finance, and Build-Operate-Transfer (BOT) projects.
He also reported that a minimum corporate tax rate of 15% has been implemented for multinational companies. He expressed that a minimum corporate tax of 10% has been introduced for companies operating within the country, some expense items have been restricted, and the revenue determination system for income tax taxpayers has been renewed.
"TAX JUSTICE WILL BE STRENGTHENED"
Şimşek also stated that the withholding tax rates applied to capital gains have been increased, and that efforts will continue to strengthen justice in the tax system.
Şimşek said, "In the upcoming period, we will continue to implement regulations that ensure that those who earn less pay less tax, and those who earn more pay more tax."
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