Tax inspections yield record-breaking 120 bln liras in 2024
ANKARA
The Treasury and Finance Ministry’s tax audit units achieved a record-breaking collection of 120 billion Turkish Liras (nearly $3.4 billion) last year during their inspections, local media said on Jan. 5.
Tax inspection teams conducted audits across a wide spectrum of taxpayers in 2024, targeting large taxpayers, individuals indulging in luxury consumption without visible income, social media influencers and those receiving untaxed payments via IBAN, among others.
Additionally, the ministry carried out inspections across multiple sectors, including jewelry and iron-steel industries, conducting inventories to identify discrepancies between declared revenues and actual sales in the field.
The primary focus of these audits was combating unregistered economic activities. Moreover, intensive efforts were directed at businesses that raised their prices without reflecting the corresponding increase in tax revenues, despite the absence of significant cost increases.
As a result of these comprehensive tax audits, a record-breaking tax loss was identified, leading to the collection of 120 billion liras in penalties and recoveries.
The ministry also effectively utilized the "invitation to clarify" mechanism last year. Accordingly, taxpayers summoned to provide explanations increased their declared tax bases by approximately 17 billion liras, while additional taxes raised through these clarifications amounted to 2.25 billion liras. Furthermore, tax inspectors contributed 1.6 billion liras to the treasury through their inspections at tax offices across the country.
“In our inspections, we have targeted taxpayers who concealed their earnings from official records. Necessary inspections and reviews will continue until all taxpayers are registered,” Minister Mehmet Şimşek said.
“We are taking every possible measure to ensure that those who earn significantly but declare minimal income, as well as those operating off the books, pay their fair share of taxes. This effort will persist throughout the coming year,” he added.
