While millions of citizens were wondering whether there would be a new tax increase in the middle of the year, Minister of Treasury and Finance Mehmet Şimşek made statements on the subject. Şimşek stated that the prices managed within the framework of the fight against inflation will be shaped in line with the determined targets, and that a surprise tax increase is not on the agenda. According to Bloomberg, when evaluating budget data for the January-April 2026 period, Şimşek said that budget revenues increased by 54.3 percent compared to the first four months of 2025.
Announcing that the increase in tax revenues was 55.6 percent, Şimşek particularly drew attention to the increase in corporate tax and income tax. He also stated that the SCT on fuel decreased by 3 percent in the same period. PEOPLE ARE BUYING MORE GOLD THAN FOR EXCHANGE EXCHANGE Stating that if oil prices continue to remain above 100 dollars per barrel due to the war that started in the Middle East after the US and Israel’s attack on Iran, there may be a tax loss exceeding 600 billion liras, Şimşek explained that they made calculations to keep the budget deficit at 3.5 percent.
Stating that spending discipline will continue as of the second half of the year, Şimşek said that these targets are achievable in line with current data. Giving good news to the citizens in this context, Şimşek reiterated that there is no new tax increase on the government’s agenda. Finally, Şimşek made evaluations about the foreign exchange markets and stated that people have recently preferred to buy gold instead of foreign currency, and this was achieved thanks to the economic policies implemented to prevent the sharp rise of the dollar.
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