Taxpayers who pay their taxes on their income have received direct tax, Mustafa Tan said, "As the salary increases, the tax paid also increases. For example, with the minimum wage, the employee's annual earnings of 19 thousand 200 pounds, 20% of that 960 is paid as a Income Tax," he said.
Mazars Denge Istanbul Tax Leader Sworn-in Certified Public Accountant (CPA) Mustafa Tan pointed out that the slowdown in China's income tax, which has a large share in world trade, has been effective in the third quarter of the GDP. This slowdown seems to have led the Chinese government to take measures, Tan said. The decrease in the burden of income taxes will have a positive effect on household income as well as a positive reflection on consumption. "Just it may not be enough to revive the economy in Turkey income tax reductions, but especially in the lower and middle income groups will increase the purchasing power temporarily. Looking at the annual paid income tax rate in Turkey 2018 years 14 thousand 800 to 15 percent of earnings up to liras, the next 19 to 20 percent to 200 thousand liras, 27 percent for the next 86 thousand liras and after a 35 percent income tax paid," he said.
Income tax residing in Turkey, indicating that direct taxes are paid out of the profits it generates Tan real people, "declared the payment of income tax and withholding tax system applies. According to the declaration in Turkey that is interrupted by withholding the share of taxes paid it is much higher than the share of taxes paid. When we look at salaries, taxation system is applied on the same tariff system in the deduction system. For the year 2018, the annual wage income up to 14 thousand 800 liras 15 percent, 20 thousand for the next 19 thousand 200 pounds, the next 86 thousand liras for 27 percent and then 35 percent of the tax is paid.
The economic crisis has overtaken banks! In 2018, where all sectors were in distress and a great recession was experienced, the net profit of the banking sector as of the end of September increased by TL 11 billion to TL 42 billion 175 million.
According to the Banking Regulation and Supervision Agency (BRSA), the asset size of the banking sector was 4 trillion 210 billion 793 million TL as of the end of September. Total assets of the sector increased by 952 billion 951 million TL (29.3 percent) compared to the end of 2017.
The net profit of the sector was 42 billion 175 million TL. Net profit was $ 31.18 billion in the same period of the previous year.
In the period of September 2018, loans with the largest asset item were 2 trillion 587 million 666 million TL and securities were 489 billion 476 million TL. In the resources of the banks, the deposit, which is the biggest source of funds, increased by 24.9 percent compared to the end of 2017 and became 2 trillion 136 billion 570 million TL.
Total shareholders' equity increased by 13.9 percent to TL 408 billion 943 million compared to the end of 2017, while the capital adequacy ratio is 18.1 percent.