ECONOMY

Turkish corporate tax hike

turkish-corporate-tax-hike

President Recep Tayyip Erdogan’s ruling AK Party submitted a draft law to parliament on Friday that proposes raising corporate tax in Turkey to 25% this year from 20% now before reducing it again to 23% in 2022.

The draft also envisages support for restaurant and café employees in April and May following the imposition of new restrictions aimed at curbing the spread of the coronavirus. [Reuters]