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Exporters sound warning on informal economy

Exporters sound warning on informal economy

Exporters sound warning on informal economy

Exporters yesterday warned the government that its current measures to combat the informal economy are ineffective and others are needed. During a meeting of top Turkish Exporters' Assembly (TIM) officials, TIM head Oguz Satici told government officials present, including State Minister for foreign trade Kursad Tuzmen and Deputy Prime Minister Nazim Erken, that jail sentences for violators don't work. Encouraging businesses to regularly pay their taxes would be better, he suggested. The exporters also urged a 5% cut in employers' social security premiums, new investment tax credits, incentives for key sectors (rather than regions), and changes to Eximbank loans.