Hike on corporate tax will add 10 bln lira to Turkish budget -government

ANKARA, March 29 (Reuters) - Raising corporate tax on the financial sector to 25% will add 10 billion lira ($686 million) to Turkey's budget next year, an impact analysis by government partners AK Party and MHP showed.

The government aims to permanently hike the corporate tax in the finance sector from 20% to 25%. The corporate tax rate was tentatively set at 23% for 2022, before the introduction of the current law and was initially planned to be cut back to 20% next year.

The plan will add 3 billion lira to the budget in 2022, the analysis said.

($1 = 14.5798 liras)

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Reporting by Nevzat Devranoglu, Writing by Ece Toksabay, Editing by Catherine Evans

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