Tax

Turkish gov't hikes tax on cigarettes, alcoholic drinks

The Turkish government has raised the special consumption tax on alcoholic drinks and tobacco products, according to a notice in the government's Official Gazette on Dec. 1. The move is expected to push up prices by some 3-6 percent.

The increase coincides with a sharp decrease in the value of the Turkish Lira and follows hikes in special consumption taxes on luxury cars. 

Working together for a better future

Turkey is amazing in many aspects. One of the main reasons for this is the resilience of its people. No matter how bad things get, we somehow find a way to carry on with life.  I am certain that people living in Sweden or New Zealand would not be able to carry on living if they were exposed to just a few days of the events happening in Turkey. 

GDP shrinks but tax revenues grow

Tax revenues in Greece amounted to 66 billion euros in 2015, or 36.8 percent of the country's gross domestic product, up by a percentage point from 2014, according to the Revenue Statistics 1965-2015 report issued by the Organization for Economic Cooperation and Development (OECD). That is above the OECD member-state average of 34.3 percent of GDP.

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