December 12, 1999 |
By
Keith Martin in Washington, DC
TURKEY imposed an additional 5% corporate tax on 1998 earnings to help pay for earthquake damage in a measure that cleared parliament on November 26. Companies in the quake region are exempted. The country is expected to take other steps soon to support its economic program for the period 2000 to 2002, including increasing indirect tax rates by one percentage point and raising value added taxes.
