Yeni Şafak targets Mehmet Şimşek again: 'The tax-free system must end'

The newspaper Yeni Şafak, known for its proximity to the government, has published a notable report targeting the economic management. In the report published under the headline "How many people declared their foreign currency earnings," the lack of taxation on gains from foreign currency trading was criticized, and it was argued that the current practice encourages rent-seeking rather than production.

"PRODUCERS PAY TAX, THOSE EARNING FROM FOREIGN CURRENCY DO NOT"

The report stated that approximately 2 million 200 thousand companies pay corporate tax at rates reaching up to 25 percent on the income they generate through production, job creation, and bringing foreign currency into the country.

In contrast, the report stated that no tax is collected from those who direct their money toward foreign currency trading instead of production, adding the assessment: "It is time to put a stop to the tax-free foreign currency system that directs capital toward rent-seeking instead of production and blocks the path to interest rate cuts by fueling the inflation spiral."

QUESTIONS POSED TO THE MINISTRY OF TREASURY AND FINANCE

In the section published under the sub-headline "Why doesn't the Ministry of Finance disclose it," it was recalled that the Revenue Administration (GİB) received approximately 5.5 million tax returns regarding earnings obtained in 2025.

The report also noted that 2 million 558 thousand taxpayers who earned income from rent, wages, securities capital gains, and other types of earnings and revenues filed returns through the Ready-to-File System.

TAX FIGURES RECALLED

In the Yeni Şafak report, it was shared that the taxpayers who filed returns declared a total tax base of 1 trillion 458 billion liras, while the calculated tax amount was 446 billion liras.

Furthermore, the report included the information that the Ministry of Treasury and Finance announced that 401 thousand taxpayers filed returns for the first time and that these figures were record-breaking.

FOREIGN CURRENCY EARNINGS DECLARATIONS BROUGHT TO THE AGENDA

In the remainder of the report, it was stated that the Ministry of Treasury and Finance has not made any statement regarding how many individuals who earned foreign currency gains last year declared this income and how much tax would be collected based on these declarations.