The Finance Ministry's move against unregistered working hours! They identified 6,500 individuals one by one.

According to information obtained from the Ministry, the VDK is deepening its inspections regarding businesses operating in the informal sector.

As a result of research conducted at the Risk Analysis Center within the board, taxpayers engaged in the informal luxury watch trade were identified one by one. In a study involving approximately 6,500 taxpayers, the repeated procurement of informal luxury watches by the same buyers was scrutinized.

INFORMAL PRODUCTS SOLD ONLINE

The sale of watches purchased without documentation, the unregistered sale of watches obtained informally, the sale of luxury watches and their imitations, as well as the trade of antique watches, have all come under the radar of the VDK.

Millions of transactions were meticulously scanned, taking into account payments made through banks and intermediary institutions or at the door. Thus, a large informal economy with a volume of approximately 4 billion lira in 2023 and 2024 was revealed. According to the analyses conducted, thousands of real or imitation watches of different brands and models are changing hands without tax being paid.

CONSUMERS ARE ALSO VICTIMIZED

During the research process, it was observed that taxpayers operating in the informal sector were also widely using electronic commerce. It was determined that informal products were being sold through online marketplaces, social media platforms, or websites using options like virtual POS and cash on delivery. As part of the investigations, it was found that no documentation was provided after the sale of these products, and consumers were victimized due to the undocumented products they obtained in this way.

LUXURY WATCHES ARE ALSO UNDER MONITORING

With the analysis of the VDK, the informal sale of 944 different brands and models of watches was detected in the initial phase. Some of the watches included in the analysis were imitation products of brands such as Rolex, Omega, and Patek Philippe. Not only the trade of informal imitation watches but also consumer profiles for original watches are being monitored. The income and spending profiles of buyers of luxury watches, which can cost millions of lira each, are also being checked. In this process, the source of the funds paid by taxpayers who do not have a visible income for luxury watches is being investigated. In this context, investigations into crimes such as money laundering and income concealment are also being conducted.

"WE LEAVE NO DOOR UNKNOCKED"

Minister of Treasury and Finance Mehmet Şimşek, in his evaluation regarding the issue, pointed out that the Ministry leaves no door unknocked in any sector or field, stating: "We promised fairness and efficiency in taxation, and in line with this promise, we are continuously fighting against the informal economy. We are tracking those who cause tax loss and evasion, providing unfair gains and creating unfair competition. The most important issue for ensuring fairness in taxation is the fight against informality. One of the main principles of the program is also the fight against informality."