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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Turkish Stocks Declines Sharply amid Plans to Impose Tax on Investors


Tue 02 Jul 2024 | 06:36 PM
Taarek Refaat

The Turkish financial market index fell sharply, Monday, after Finance Minister Mehmet Simsek revealed that he is considering imposing a tax on investors’ profits in the stock market.

The government had proposed the idea of ​​a tax on stock market profits last month for the first time, but withdrew from it after negative reactions in the markets.

The Minister of Finance is participating in a public awareness campaign to defend a new draft law that would lead to the imposition of additional taxes, which he asserts are necessary to keep the country's public finances in a positive state.