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Turkey to increase its departure tax

Turkey to increase its departure tax

As the Turkey's central government budget balance posted a deficit of some 66.5 billion Turkish liras ($11.9 billion) in the January-May period this year, a new omnibus bill is submitted to Turkish parliament.

The Justice and Development Party (AKP) submitted the bill. If it is accepted, Turkish citizens will pay 50 Turkish liras ($ 8.73) when leaving the country, instead of the current sum of 15 liras ($ 2.62).

A 230 percent price hike to departure tax for Turkish nationals travelling abroad will definitely affect the number of Turkish travelers.

The omnibus bill also sees the extension of the cash repatriation law until December 31. The law allows for private and corporate entities to be exempt from taxes as well as inquiry on the source of their money entering the country from abroad.

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