UPDATE: Turkish Industry Min: "No Extension On Tax Cuts" - IHA
Wed, Sep 30 2009, 09:28 GMT
http://www.djnewswires.com/eu
(Adds detail on auto industry.)
ANKARA -(Dow Jones)- There will be no extension to tax cuts the government implemented for some sectors in order to revive the economy, Turkish Industry Minister Nihat Ergun said Wednesday, according to Ihlas News Agency, or IHA.
In March, the Turkish government introduced various tax cuts for some sectors, including automotive, white goods, and electronics.
The government in June extended the period of tax cuts for a further three months in a bid to boost the economy.
Ergun Wednesday told reporters the government was considering a "cash for clunkers" program for the automotive sector, whereby older cars are traded in older cars for new cars at a discount.
In June, the special consumption tax on passenger cars was raised to 27% for three months from 18%.
Agency Web sites: www.iha.com.tr; www.ihavideo.net
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September 30, 2009 05:28 ET (09:28 GMT)
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