Turkey collects 8.7 bln liras in tax fines

Turkey collects 8.7 bln liras in tax fines

Turkey collects 8.7 bln liras in tax fines

The tax inspections will be broadened, Şimşek says. DHA photo

The Finance Ministry collected 8.7 billion Turkish Liras in tax fines in addition to an extra 4.5 billion liras in taxes from companies that declared smaller incomes or did not declare any at all, according to Minister Mehmet Şimşek.

The minister announced yesterday the results of the 2012 tax probe of the Tax Inspection Board, a sub-council of the ministry in addition to revealing the projections over tax audition for 2013.

Şimşek praised the tax inspection units for conducting efficient inquisitions revealing a 4.5 million liras tax debt has not been declared to the Tax Inspection Board by tax auditors. The ministry also collected an 8.7 billion liras fine from taxpayers who caused tax loss and evasion.

In 2013, inspections will be tightened as the technical infrastructure will be enhanced and the number of inspectors will be increased, said Şimşek.

The rate of smuggling is still considerably high despite the Turkish government’s extensive battle against income loss because of smuggling by introducing stringent regulations.

The police and the finance ministry have carrying a large campaign against oil and cigarettes smuggling. Smuggled cigarettes cause Turkey to lose between 4 billion and 5 billion liras in tax revenue every year, according to the Confederation of Turkish Craftsmen and Tradesmen (TESK).