Earthquake tax precautionary warning from ISO President


Istanbul Chamber of Industry (ISO) Chairman of the Board Erdal Bahçıvan, regarding the items added to the debt restructuring proposal for those affected by the earthquake, said, “The first source that comes to mind for the heavy burden of the earthquake is to support retrospective and especially quality-enhancing investment ideas and projects. The arrival of investment incentives is regrettable.” said.

Erdal Bahçıvan, Chairman of the Board of Istanbul Chamber of Industry (ICI) on new tax measures made evaluations.

Bahçıvan stated that they have gone through extraordinary days and conditions as a country, that the earthquakes in Kahramanmaraş caused deep sorrow on everyone and that they would also put a heavy burden on the country’s economy.

Emphasizing that this burden can only be overcome with a sacrifice shared by all segments of the society, Bahçıvan reminded that some new articles were added to the debt restructuring law that was discussed in the Parliament last night.

“IT WILL BRING NEW CHALLENGES” Bahçıvan stated that it is possible to evaluate the regulation brought to the incentives given to corporate taxpayers in order to heal the wounds of the earthquake as a sacrifice and said: It is regrettable that the promised investment incentives to support increasing investment ideas and projects have come.

Such practices against past commitments will adversely affect the investment appetite of qualified investors who plan to implement different projects not only today but also in the future. In addition, the new regulation will bring new unforeseen challenges to companies that have difficulty in raising funds along with EYT payments.”

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