MNI China Daily Summary: Wednesday, December 11

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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TURKEY: Budget Committee Unexpectedly Ends Talks on New Tax Package

TURKEY
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  • Citing the whip of the ruling AK Party, NTV report that talks at the parliament’s budget committee unexpectedly ended as the package was shelved to be discussed later, potentially in 2025 (see here).
  • The piece adds that the package, especially the article stipulating a fee on credit cards with a monthly limit of TRY 100,000 and more, was harshly criticised by the opposition.
  • This morning, Bloomberg reported that the government’s plan to impose the fee on credit cards would have raised TRY 13.1bn annually ($382m). However, Dunya reported that citizens were calling their banks to lower their limits in anticipation of the measure, while some local banks were caught unprepared by the proposed regulation.
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  • Citing the whip of the ruling AK Party, NTV report that talks at the parliament’s budget committee unexpectedly ended as the package was shelved to be discussed later, potentially in 2025 (see here).
  • The piece adds that the package, especially the article stipulating a fee on credit cards with a monthly limit of TRY 100,000 and more, was harshly criticised by the opposition.
  • This morning, Bloomberg reported that the government’s plan to impose the fee on credit cards would have raised TRY 13.1bn annually ($382m). However, Dunya reported that citizens were calling their banks to lower their limits in anticipation of the measure, while some local banks were caught unprepared by the proposed regulation.