Cevdet Yılmaz's 'tax' admission: 'Some firms really do not pay taxes, the reason is this...'

Vice President Cevdet Yılmaz made statements regarding the Turkish economy and the new tax package during a joint broadcast on Habertürk and Bloomberg HT.

"THEY DO NOT PAY TAXES, THE REASON IS THIS..."

Responding to recent public allegations that some companies do not pay taxes, Yılmaz said:

"Some firms really do not pay taxes. The reason is this; there are various exceptions and exemptions in our tax law. You make an investment, and an incentive certificate provides an exemption. These exceptions and exemptions are the main factor. Regardless of what they are, we have introduced a minimum 10 percent corporate tax based on their profitability before these. No matter which incentive certificate or exemption they have received, companies will pay at least 10 percent. We have a reconciliation mechanism. In the current practice, even if the bureaucracy wants to, it will no longer be able to erase the principal amount."

INFLATION EXPECTATIONS

Speaking about inflation expectations, Yılmaz said, "Our expectation for July is low 60s. We estimate that we will see low 50s the following month, and when September inflation is announced, we will see figures in the 40s."

Also speaking about retirees, Yılmaz used the phrase 'The annual cost is over 60 billion liras' regarding the lowest pension, which is 12,500 liras.