Turkey: Many virus-hit firms, sectors can delay taxes
Some 1.9M taxpayers can delay tax payments due to coronavirus outbreak, says finance minister
Turkey on Tuesday announced a host of sectors and classes eligible for deferred tax payments in light of the coronavirus outbreak.
A total of 1.9 million taxpayers will benefit from these deferments, Treasury and Finance Minister Berat Albayrak said on Twitter.
Eligible professionals include the self-employed, farmers, tailors, grocers, lawyers, financial advisers, architects, engineers, doctors, and dentists.
Sectors that can delay their tax payments include retail and shopping centers, the iron, steel and metal industry, the automotive sector, logistics and transportation, textiles, entertainment, mining, construction, the media, and healthcare services.
For the sectors specified, “we postponed payments regarding withholding tax returns and VAT declarations in April, May and June for six months," Albayrak said.
The tax payments of citizens who are over 65 or have chronic illnesses were also postponed due to their being barred from leaving their homes amid the outbreak.
Last week, President Recep Tayyip Erdogan announced an aid package of 100 billion Turkish liras (about $15.4 billion) to help cushion the effects of the outbreak.
He announced a series of measures including tax cuts for businesses and help for low-income households, the retired, and the elderly.