Turkey, once heralded as a “lessor’s paradise”
(see Leasing Life Issue 178), may be due for a return to
form, as Turkish finance minister Kemal Unakitan announced
potential leasing industry tax cuts as part of the country’s
economic stimulus measures.
(see Leasing Life Issue 178), may be due for a return to
form, as Turkish finance minister Kemal Unakitan announced
potential leasing industry tax cuts as part of the country’s
economic stimulus measures.
According to Reuters, anticipation of
the announcement caused leasing company share prices to rise, with
Seker Finansal’s price rising 12.8 percent to 0.44 lira, and Yapi
Kredi Finansal improving 10.9 percent to reach 1.85 lira.
the announcement caused leasing company share prices to rise, with
Seker Finansal’s price rising 12.8 percent to 0.44 lira, and Yapi
Kredi Finansal improving 10.9 percent to reach 1.85 lira.
The tax cuts would form part of a series of measures aimed at
supporting small and medium sized businesses, with the Turkish
economy expected to enter recession during 2009.
VAT on lease rental payments in Turkey was increased to 18
percent on December 31 2007, but then reduced back to 8 percent for
leases of construction, textile and agricultural machinery, as well
as medical equipment, during the first half of 2008.
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