Ministry preparing new incentive package for tradesmen

By implementing changes to income tax laws, the government enabled tradesmen and artisans to be taxed under different method that allows them to pay less, while exempting certain artisans that practice a particular art that is dying out

Ministry preparing new incentive package for tradesmen

World Bulletin/News Desk

Minister of Customs and Trade Hayati Yazıcı announced on Thursday that the government is working towards preparing a new incentive package that will support tradesmen and artisans in the country.

Speaking at a press conference held by Şeker Bank to introduce its new project called “Our doors are open to tradesmen” which is also supported by the Turkish Tradesmen and Artisans' Confederation (TESK), Yazıcı said currently there are 2.14 million small businesses operated by tradesmen and artisans in the country and that the government is working on new measures that will assist them in continuing their work. Noting that the ministry is studying the support mechanisms available for tradesmen and artisans in other countries, he said the new package would be implemented by next year.

“The prospective package is also aimed at increasing the number of tradesmen taking advantage of incentives. As a result, the competitive power of tradesmen will improve, while supporting change and development in these businesses as the ministry hopes to increase the number of active tradesmen with entrepreneurial skills,” he said.

Yazıcı also said that by implementing changes to income tax laws, the government enabled tradesmen and artisans to be taxed under different method that allows them to pay less, while exempting certain artisans that practice a particular art that is dying out. “The value of the loans given to tradesmen via TESK totaled TL 153 million in 2002, but this figure was brought up to TL 6.6 billion as of 2012, while downgrading the interest rate imposed on them to 5 percent from 47 percent. The ceiling loan amount now stands at TL 125,000 which is 42 times more than what it used to be in 2002,” he concluded.

 

Last Mod: 16 Şubat 2013, 12:14
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