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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessVAT Rates Increased; Erdogan, Zelenskiy to Meet in Istanbul Later Today
- Turkey has increased the general VAT rate to 20% from 18% and the rate applied on some other goods to 10% from 8%, according to a decree published in the official gazette. The lump sum fees applied in 2023 were increased by 50% while the Banking and Insurance Transaction Tax was raised to 15% from 10%. Taxes on gambling were also raised.
- President Erdogan will meet his Ukrainian counterpart Volodymyr Zelenskiy at 1700BST/1900 local time in Istanbul today. According to Hurriyet, Zelenskiy will demand Turkey’s support so that NATO members pledge heavier weapons as well as jetfighters in a bid to push its counteroffensive against Russia. The two leaders will also discuss the ongoing grain initiative. Russia says it will not extend the deal which will expire on July 17 because its conditions have not been met.
- Citing data from the Trade Ministry, Hurriyet report that Turkey’s foreign trade volume in TRY has increased by 129% in the January-June period to TRY349.5bln.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.