Finance Minister Mehmet Şimşek has announced that intensive sectoral field inspections are ongoing to prevent unfair competition and tax losses caused by the informal economy.
In his statement, Minister Şimşek highlighted that informal economic activities lead to significant tax losses and imbalance in competition. Emphasizing the increased field inspections to counter such issues, Şimşek mentioned that the ministry’s inspection teams are working rigorously across various sectors.
The aim of these inspections is to ensure economic activities are conducted transparently and to prevent unfair gains by avoiding tax liabilities. Minister Şimşek anticipates that these efforts will create a fair competitive environment in the economy and lead to a significant increase in state tax revenues.
While the announcement did not provide specific examples of the scope and effectiveness of the inspections, it conveyed the ministry’s determination to move forward on this issue. We will witness the results of these inspections conducted by the Ministry of Finance over time.
Source: Ministry of Finance statements.