ITO President Şekib Avdagic's KGF Statement

Istanbul Chamber of Commerce President Şekib Avdagiç conveyed his demands to the Minister of Treasury and Finance Nureddin Nebati at the ITO Business World Meeting. Avdagic said, "A package supported by KGF was announced a short time ago. Our Minister also stated that a package similar to this could come into play." ITO President Şekib Avdagic, who also gave information about the demands they conveyed to the Minister of Treasury and Finance Nureddin Nebati, who attended the ITO Business World Meeting, said: “We shared the expectations regarding VAT regulation. We have two demands, the first is that in case of differences between the entry and exit VAT of the companies, we demanded that the VAT accumulated in the companies be returned and deducted quickly and effectively. We demanded the revision of VAT rates in some sectors, especially on health and education. Minister, on the other hand, said that they will evaluate the demands technically on VAT in some sectors. Another issue is the price difference decrees process. The decree covering the last quarter of 2021, the first quarter of 2022 was issued, but considering the high CPI and PPI at the moment, the contractors doing business with the public are taking action against the victimization of both the service providers and the service users, with the dynamic price difference decree methodology being activated and accordingly updated on a quarterly or monthly basis. We expressed the importance of being “It's possible that a package comparable to KGF will be introduced.” Before finishing his speech, Avdagiç said, “A short time ago, a 150 billion lira KGF-supported package was announced. Minister Çavuşoğlu also stated that a similar package could be introduced. In 2022, an additional $50 billion burden was incurred due to energy costs.