Pro-government newspaper reports: AKP takes new step following backlash over credit card tax

Unable to curb the worsening economic situation, the AKP government is preparing to add new taxes to the backs of citizens struggling with the cost of living, to be transferred to the Defense Industry Support Fund (SSDF).

The legislative proposal regarding the collection of participation fees to be transferred to the aforementioned fund from title deeds, vehicle sales, income tax declarations, SGK premium declarations, and credit cards with a limit of over 100,000 liras will be discussed today (October 15) in the TBMM Planning and Budget Committee.

The proposal envisions collecting a share for the SSDF equal to the stamp duty amount on tax declarations and insurance premium declarations; 750 liras separately from both the buyer and seller in real estate sales, and 375 liras from the person on whose behalf the transaction is made in other transactions.

For notary transactions, it is stipulated that a participation fee for the SSDF will be collected: an amount equal to the fee taken at the title deed office for real estate sales, 3,000 liras for the registration of new vehicles, 1,500 liras for all types of sales and transfers of second-hand vehicles, and 75 liras per transaction for other notary services.

One of the regulations in the omnibus bill that drew the most reaction was the plan to deduct 750 TL annually for each card from citizens with a credit card limit of 100,000 TL or more.

A high demand emerged as those with credit card limits of 100,000 and above sought to lower their limits below this figure.

According to a report by the Türkiye newspaper, known for its proximity to the government, the AKP has decided to re-evaluate the regulation in question following the backlash.

AKP sources commented on the omnibus bill, which has drawn intense public reaction, as follows:

“There are currently 126 million 450 thousand credit cards in Turkey. 17.5 million of these cards have a limit of 100,000 and above.

A resource of around 13 billion liras annually is expected. This participation fee, which will be collected once a year, corresponds to 60 liras per month.

The expenditures of our defense industry are very burdensome. But we also see the reactions. Perhaps a new evaluation can be made.”

100,000 TL LIMIT THRESHOLD MAY BE INCREASED

It is stated that instead of abandoning the regulation entirely, the option of increasing the 100,000 lira limit threshold may be brought to the agenda.