The amount the AKP will collect from credit cards has been revealed: It will be taken from one in every 2 people!
It has emerged that the total contribution fee to be collected from credit cards with a limit of over 100 thousand TL, as part of the AKP's new tax package, will amount to 1 billion 355 million dollars.
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The revenue that the AKP will generate from the regulation requiring a 750 TL annual contribution to the defense industry from credit cards with a limit exceeding 100 thousand TL has been determined.
"The Draft Law on Amendments to the Law on Certain Regulations Regarding the Defense Industry and Other Laws" has been submitted to the Grand National Assembly of Turkey (TBMM).
According to a report by Ekonomim, the 12-article legislative proposal includes numerous provisions aimed at increasing the revenues of the Defense Industry Support Fund.
The most notable aspect is the 750 lira annual fee to be charged on credit cards with a limit of over 100 thousand lira.
HOW MANY CREDIT CARDS HAVE A LIMIT OF 100 THOUSAND LIRA?
According to data from the Interbank Card Center in Turkey, there are 125 million 925 thousand 12 credit cards in circulation.
ONE IN EVERY 2 PEOPLE
According to the monthly bulletin data from the Banks Association of Turkey Risk Center, the approximate ratio of credit cards with limits over 100 thousand TL among total cards in August 2024 is seen as 49.2 percent.
Approximate, because the number of unique individuals is shown, and in cases where a person has more than one individual credit card, that person is counted only once.
The number of credit cards with a limit of 100 thousand TL and above is calculated as 61 million 955 thousand 106.
ANNUAL RETURN OF THE FUND
Significant tax revenue is expected to be generated through this fund.
According to the calculated data, when a 750 lira Defense Industry Fund fee is collected from 61 million 955 thousand 106 credit cards, it corresponds to 46 billion 466 million 329 thousand 428 TL.
This figure (at the current exchange rate of 34.28 dollars/TL) corresponds to 1 billion 355 million 493 thousand 857 dollars.