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04-03-2019 16:55 | Read 401 times

Calls for a luxury tax

Urgent reform of the “unjust” taxation system — including introduction of a “Monopoly-style luxury tax” for property owners, particularly in the Girne area — is being demanded in the face of a revelation that two-thirds of TRNC households are deemed to be “low income”.

Calls for a luxury tax

By Kerem Hasan

The figures were announced by Finance Minister Serdar Denktaş, who told a presentation at Lefkoşa’s Golden Tulip Hotel on the findings of his ministry’s Quality of Life and Wealth Survey that 66.7 per cent of households were on “low pay” of less than 6,000TL a month.

Average monthly income was put at 3,847TL, with 3,000TL the most common pay, and 15 per cent of households were officially “in poverty”, while 25 per cent “struggled to make ends meet at the end of the month”.

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