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Asharq Al-Awsat

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Asharq Al-Awsat

Turkey Lowers Taxes on Basic Foods to Fight High Inflation

Turkey Recep Tayyip Erdoğan Official Gazette

Members of Turkey's main opposition Republican People's Party burn invoices as they gather in front of a monument of the founder of modern Turkey, Mustafa Kemal Ataturk, in Ankara, Turkey, Wednesday, Feb. 9, 2022, to protest high electricity prices, as people set on fire electricity bills they say they can't pay. (AP)

Turkey’s president announced a significant reduction in taxes on basic food supplies Saturday as the country faces rampant inflation and numerous protests over eroding living standards.

President Recep Tayyip Erdogan said the value-added tax would be lowered to 1% from 8% on food purchases. His decision will be published in the Official Gazette and go into effect on Monday.

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