Turkey to take several precautions to prevent informal economy
by Daily Sabah
ISTANBULMay 20, 2016 - 12:00 am GMT+3
by Daily Sabah
May 20, 2016 12:00 am
The government plans to take a series of steps to prevent the proliferation of a "informal economy." As such, salaries and premium payments will only be directly deposited into a bank account and not given in person, which is especially relevant to the construction sector. Those who do not abide will be fined.
Also, companies that only employ insured workers will be rewarded, and honest taxpayers and companies will have a scorecard where they will be rewarded with tax credits and refunds, which will be paid in instalments. Additional incentives will be offered to dissuade small business owners and small and medium-sized enterprises (SMEs) away from enabling the informal economy, and audits related to informal employment will be expanded. The economic dimension of smuggling, particularly in the fuel, alcohol and tobacco sectors, will be more effectively measured, and a follow-up inspection system will be strengthened for the cosmetics, vegetable and fruits, and other agricultural products sectors as well.
The risk analysis centers will also be actively used in the fight against informal employment. The government will also mandate that title deeds be accessible online, which will facilitate the end of several illegal implementations. In addition, several implementations are in development regarding the follow-up system for e-commerce. E-commerce will be registered, and those who evade taxes on e-commerce products and services will be penalized. International online shopping will be closely monitored as well, and automobile smuggling will be clamped down on, with all stages of the vehicle delivery process being more closely monitored.
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