Ankara (Agencies): The Turkish government has proposed a new law that would introduce an annual fee for credit card holders. Under this legislation, credit card owners whose limits exceed 100,000 Turkish Liras (approximately $3,000) will be subject to an annual contribution fee of 750 TL. The collected fees will be exclusively directed toward supporting Türkiye’s military industry.
The bill, which includes several provisions to increase revenues for the Defense Industry Fund, has been submitted to the Grand National Assembly of Turkey (TBMM). Among the proposed measures are:
- Credit Card Contribution Fee: Owners of credit cards with limits exceeding 100,000 TL will be required to pay an annual fee of 750 TL per card. This contribution aims to strengthen the Defense Industry Support Fund.
- Stamp Tax and Real Estate Transactions: The bill also suggests collecting stamp tax from various financial and real estate transactions. For instance, it proposes levying taxes on tax declarations, customs submissions, insurance premium declarations, and real estate sales.
- Motor Vehicle Tax: The proposed regulation extends to motor vehicle transactions as well. It includes taxation for new vehicles and sales/transfers of second-hand vehicles.
- Special Consumption Tax: The tax scope will now cover items such as drones and wristwatches with a tax base exceeding 5,000 TL.
This initiative reflects the government’s commitment to supporting the defense industry while ensuring financial sustainability. As the bill progresses through the legislative process, further details will emerge regarding its implementation and impact on credit card holders and the defense sector.