Fund proposal that stirred public opinion: Credit card limits may change!

The TBMM Planning and Budget Committee met yesterday to address the proposal. Following discussions on the proposal as a whole, a surprise move came from the AK Party. It was announced that the deliberations on the proposal were postponed until after the 2025 budget negotiations. Responding to journalists' questions, AKP Group Deputy Chairman Abdullah Güler stated that the regulation was left for 2025, saying, “Let's say it was postponed. We will conduct a more detailed review. We will see the 2025 budget. If there are elements to be changed or issues to be withdrawn, we will evaluate them after the budget. Our President had also instructed that a detailed review be conducted again.”

TARGETED REVENUE

According to the report by Milliyet, the impact analysis prepared for the legislative proposal expected 13.1 billion TL in revenue from the collection of a fixed-amount Defense Industry Support Fund participation fee from credit cards with a limit of 100 thousand TL and above. According to the impact analysis, 1.7 billion TL was expected from the 20 percent Special Consumption Tax (ÖTV) on watches worth 5 thousand TL and above, 275 million TL from the tax regulation on motorcycles, and 28.8 billion TL in revenue was targeted from the SSDF participation fee to be collected from declarations submitted to tax, insurance, and customs administrations in 2025 for the Defense Fund.

WHICH OPTION IS ON THE AGENDA FOR THE CREDIT CARD DEDUCTION?

It was stated that alternatives regarding the controversial credit card article of the fund were also being discussed. Accordingly, it was expressed that options such as raising the credit card limit for the fund deduction from 100 thousand TL to 250 thousand TL, halving the amount to be transferred to the fund, or collecting the fund share partially or entirely from banks could be on the agenda.

News Source: 12punto