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ANKARA, March 28 (Reuters) – The Turkish parliament will start out debating a draft regulation this 7 days beneath which the company tax imposed on fiscal sector firms would increase to 25% from 20%, and feasible prison sentences for harming firms’ reputations in the media.
President Tayyip Erdogan’s ruling AK Celebration presented the 39-posting bill to parliament on Friday evening and debate on it is scheduled to get started in the assembly’s setting up and price range commission on Tuesday.
The planned hike in the tax rate, applicable from 2022, would be imposed on banks, economic leasing corporations, asset management firms and insurance policies firms.
The invoice also consists of clauses broadening measures aimed at preserving the reputations of banks to include businesses which have a similar organization products.
The legislation imposes a custodial sentence of just one to three several years, or a good, on people discovered guilty of spreading baseless news which shakes assurance in the sector or harms its money construction.
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Reporting by Nevzat Devranoglu
Writing by Daren Butler
Editing by Jonathan Spicer
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