Turkey's AK Party introduces a bill to boost the Defense Industry Support Fund, aiming for $2bn annual revenue.

Turkey's ruling AK Party has introduced a bill to bolster the Defense Industry Support Fund (SSDF), aiming to generate $2 billion annually. The legislation proposes new contributions based on tax declarations and credit card limits, along with fees from real estate transactions and notary services, all directed to the SSDF. It also seeks to delay inflation-related tax impacts on ongoing investments, enhancing predictability for investors and strengthening the defense sector.

October 11, 2024
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