In a recent interview with Bloomberg, Deputy President Cevdet Yılmaz revealed that tax policies will be a key focus in the upcoming legislative year. However, he made it clear that the government is not prioritizing issues like taxes on stock transactions or cryptocurrencies at this time. Additionally, he indicated that significant alterations to current tax rates are unlikely.
### Cryptocurrency and Stock Tax Not on the Agenda
Yılmaz pointed out that earlier discussions about taxes on stocks and cryptocurrencies have been shelved and will not be revisited in the next legislative period. He stressed that the government’s main objective is not to change overall tax rates but to refine current exemptions. He also noted that there are no plans for a new tax package akin to the one set to begin on October 1.
### Inflation Accounting and PPP Projects
He discussed the topic of inflation accounting, which banks and financial institutions are slated to implement by 2025, suggesting that this issue may soon be removed from Turkey’s agenda. He highlighted that the timeline for Small and Medium Enterprises (SMEs) has been delayed, while financial institutions are expected to finalize their decisions by year-end.
Yılmaz also brought attention to the financial burden that public-private partnership (PPP) projects, conducted in foreign currency, place on the national budget. He underscored the importance of assessing these projects from both financial and economic perspectives, stating that there are currently no initiatives to convert contracts into Turkish Lira.
### Inflation and Interest Rate Targets
When asked about the Medium-Term Program (OVP), which targets 4% growth and 17.5% inflation for 2025, Yılmaz acknowledged the short-term challenges but expressed confidence that long-term efforts to reduce inflation will foster growth. He noted that enhanced predictability from decreasing inflation rates would further support economic expansion, emphasizing that growth driven by investments and production would be insulated from inflationary pressures.
Yılmaz outlined the government’s ongoing savings initiatives aimed at controlling the budget deficit and ensuring that public institutions adhere to their financial allocations. He expressed optimism that falling global interest rates, combined with robust performance from major markets like the European Union, would positively influence Turkey’s economic growth.
### Financial Stability and Swap Channels
Yılmaz addressed swap channels and the prohibition of short selling in the stock market, explaining that these measures are evaluated with financial stability in mind. He assured that appropriate actions would be taken if necessary. He confirmed that negotiations regarding swaps with London are ongoing, emphasizing a commitment to maintaining Turkey’s financial stability.
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**Disclaimer:** The information presented in this article is not intended as investment advice. Investors should recognize the high volatility and risks associated with cryptocurrencies and are encouraged to conduct their own research.
