Erdogan Announces VAT Reductions to Ease the Growing Burden on Consumers

LOCAL NEWS

• Erdogan announces tax cuts on VAT for several products including detergent, baby diapers, toilet paper and napkins, which will be reduced from 18% to 8%. Additionally, tax rates on all food services such as restaurants and hotels will also be decreased to 8% from 18%. Taxes on the profit of automobile sales will, however, be increased from 18% to 1% - Ahval
• Erdogan will meet Russia & Ukraine delegations in Istanbul today ahead of ceasefire negotiations. Erdoğan also said phone talks with his Ukrainian and Russian counterparts are continuing in a "favorable direction".
  • Turkey has occupied the middle ground between both sides, but has welcomed Russian oligarchs and businesses to operate in Turkey and pushed back on Western pressure to drop Russian S-400 missile systems in recent weeks. – Daily Sabah
• On Sunday evening six opposition leaders held a “very productive” second meeting to discuss the parliamentary democracy system and other developments in Turkey. They said that moves to reduce the election threshold from 10% to 7% would not affect their cooperation, and that their aim was to end Turkey’s deep problems - Duvar

Events

• 0800BST: Business Group Tusiad holds General Assembly
• 1200BST: CBRT Gov Kavcioglu speaks after general assembly meeting