Turkey announces new tax cuts to fight high inflation

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Turkey announces new tax cuts to fight high inflation

STORY: Turkey announces new tax cuts to fight high inflation DATELINE: March 30, 2022 LENGTH: 00:02:14 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: various of the press conferenceSOUNDBITE (Turkish): RECEP TAYYIP ERDOGAN, Turkish Presidentvarious of street view STORYLINE: Turkish President Recep Tayyip Erdogan on Monday announced value-added tax (VAT) cuts on several products to fight inflation. The VAT cuts included mostly necessities, such as hygiene products and medical equipment, Erdogan said at a press conference after a cabinet meeting. SOUNDBITE (Turkish): RECEP TAYYIP ERDOGAN, Turkish President "We have decided to reduce the VAT on products such as detergent, soap, toilet paper, napkins and baby diapers from 18 percent to 8 percent." The government will also reduce the financial burden on the construction industry by cutting the VAT on landed property to 8 percent, the president added. In the agricultural sector, the country will reduce VAT to 1 percent on all kinds of certifi

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