Turkcell faces 527.7 million lira tax fine

Turkcell faces 527.7 million lira tax fine

ISTANBUL
Turkcell faces 527.7 million lira tax fine

DAILY NEWS photo

Turkey’s leading mobile phone company, Turkcell, announced on Jan. 2 that it is facing a 527.7 million-Turkish Lira ($246 million) tax fine related to a special communications tax due for the 2008-2012 period.

In a statement to the Istanbul stock exchange, Turkcell said it would appeal against the demand.

The company’s shares dropped 7.49 percent in afternoon trading following the news.

The operator was hit by a tax levy of 350 million liras in 2010.

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