International taxation

Government plans new package to boost tax revenues

The government plans to introduce a bill to parliament later this week, aiming to raise additional 226 billion Turkish Liras ($7 billion), equal to about 0.7 percent of gross domestic product, in tax revenues.

The new tax package foresees increases in taxes on multinational and local companies as well as other taxes.

Work to impose tax on stock transactions postponed, says Şimşek

Work on introducing a tax on stock transactions has been postponed after feedback from all relevant parties, Finance Minister Mehmet Şimşek has said.

"We are postponing the draft tax work for the stock exchange for a while for further re-evaluation," Şimşek wrote on the social media platform X.

No plan to tax gains from crypto, stocks: Şimşek

Imposing a tax on proceeds from crypto assets and stocks is not on the government's agenda, Treasury and Finance Minister Mehmet Şimşek has said.

Speaking at an event organized by the International Investors' Association (YASED) in Ankara, Şimşek, however, told reporters that "a very limited" transaction fee or tax may be levied on those assets.

Electricity Up, Heating Down: Bulgaria Faces New Price Changes Ahead!

The Bulgarian Energy and Water Regulatory Commission (EWRC) anticipates an average electricity price increase of 1.34% starting July 1, while the price of hot water and heating is expected to decrease by an average of 8.44%. Final decisions will be made at the end of the month, with an open meeting scheduled for next week to discuss these forecasts.

The unbearable lightness of the European elections

These European Parliament elections are the most important in recent decades. Europe will face very difficult decisions that will determine whether it will come of age geopolitically and economically or not. Whether Donald Trump is elected in the United States or not, the alarm has been ringing for Europe for a long time.

EU warns Cyprus on business tax

The European Commission has warned Cyprus and several other EU member-states to step up their game on important new tax and data rules.

Cyprus, along with Spain, Latvia, Lithuania, Poland and Portugal, is under pressure to enforce a minimum 15% tax rate for big multinational companies, a key part of the European Union's efforts to ensure fair taxation.