Mehmet Şimşek

High-paid athletes under scrunity over tax evasion, unreported income

The Treasury and Finance Ministry has initiated an investigation into athletes with substantial earnings who have failed to declare their income, examining the earnings of 1,900 individuals across various sports disciplines.

As part of a broader wave of tax audits, the ministry has now shifted its attention to professional athletes.

Türkiye ‘open for business and dialogue,’ says Finance Minister Şimşek

Türkiye is "open for business and dialogue," Turkish Treasury and Finance Minister Mehmet Şimşek announced on Wednesday, emphasizing the nation's benefits from post-pandemic supply chain diversification and its comprehensive reform program to boost competitiveness, productivity, and potential growth.

Interest in Türkiye growing, says Finance Minister Şimşek

Interest in Türkiye is growing, Finance Minister Mehmet Şimşek has said on social media platform X, after holding talks in Germany during a one-day visit.

He had productive meetings with executives of large companies and investors in Germany, the minister said.

"We are intensifying our efforts to increase international direct investments, which is our main goal," Şimşek added.

Şimşek sees inflation falling to around 30 percent in early 2025

Türkiye's annual inflation will decline around 30 percent in the first quarter of 2025, before easing further down to the 20 percent range in June or July, Finance Minister Mehmet Şimşek has said.

"I sincerely believe that by the end of 2025, we will be able to reduce inflation to below 20 percent," Şimşek said in an interview with private broadcaster CNN Türk.

Ministry identifies 700,000 tax evaders in rental income sweep

In a sweeping effort to combat tax evasion, Türkiye's Treasury and Finance Ministry has identified approximately 700,000 taxpayers who failed to declare their rental income, despite being reminded to do so.

The crackdown comes as a part of a broader initiative to reduce informality in the economy and ensure tax compliance across the country.

Taxpayers to be offered digital convenience

The government will soon introduce practices to streamline bureaucratic processes for taxpayers, Treasury and Finance Minister Mehmet Şimşek has announced.

Şimşek said the Revenue Administration is working on a series of draft communiqués that will provide convenience to taxpayers, and the drafts will soon be made public for input and opinions.

Türkiye's annual inflation slows to 9-month low in July

Türkiye's annual consumer inflation significantly cooled to a nine-month low of 61.78% this July, below economists' forecasts, according to official data released on Monday.

Headline inflation decreased for the second consecutive month in July from 71.60% in June, the Turkish Statistical Institute (TurkStat) data showed.

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