ANKARA - Turkish Finance Ministry will revise Income Tax Law, Corporate Tax Law and Tax Procedure Law.
These three basic laws, which include too much provisional and out-dated articles, will be made simpler and plainer.
Finance Ministry, which have put many tax packages into force in recent years, decided to change tax laws completely as it was ordered by the Finance Minister Kemal Unakitan.
According to Finance Ministry officials, problems about these laws are:
-The laws include many provisional articles. There are 126 basic and 66 provisional articles in Income Tax Law. Corporate Tax Law includes 48 basic and 32 provisional articles. There are 417 basic and 25 provisional articles in Tax Procedure Law.
-Sometimes provisional articles replaced basic articles.
-Many articles are outdated, however they still exist in texts of laws.
-Many basic articles cannot be applied because they are postponed.
-There are many reiterated articles in each three laws and there is inconsistency among the articles.
-The number of additional articles is very high.
-The systematic of Tax Procedure Law is completely corrupted.
Finance Ministry officials said that they will revise each law one by one.
This study is envisioned to be completed within 2005 and each three laws will be reshaped according to new tax policies.
(GC-ULG) 02.08.2004