Following the statement by Treasury and Finance Minister Mehmet Şimşek that “The average monthly tax base declared by a jeweler is 16,046 Turkish liras,” the inspections in the gold sector conducted in 9 metropolitan cities have been expanded to cover 500 major and high-risk taxpayers in 36 provinces. Teams from the Treasury and Finance Ministry are intensifying their inspections of businesses operating informally.

In this context, the Tax Inspection Board Presidency and the Risk Analysis General Directorate closely monitored the jewelry sector mentioned by Şimşek, who said, “The average monthly tax base declared by a jeweler is 16,046 Turkish liras. These are very low figures,” and carried out a physical inventory inspection at businesses in 9 metropolitan cities in July. In line with Minister Şimşek’s instructions to fight against informal economy continuously, the tax inspectors under the Tax Inspection Board and income experts under the Revenue Administration expanded their inspections.

This time, Ministry teams conducted inspections and physical inventory work related to major and high-risk jewelers in over 500 businesses in 36 provinces. The inspections examined whether the real weight of gold was included in the invoices. Furthermore, inspections checked whether businesses engaged in transactions of gold and precious stones without invoices, payments and collections were made through bank accounts not owned by the firm, and whether invoices included accurate weight information for the products.

The inspections also looked into whether taxpayers engaged in foreign exchange transactions without authorization certificates and whether POS devices owned by others were used in these businesses. Minister Şimşek, in his assessment of the matter, indicated that they are combating informal economy with effective methods in all areas within the framework of their principle of tax justice. Mentioning that they are continuing to examine major and high-risk taxpayers who report low incomes despite earning high profits, Şimşek stated that they always stand by honest taxpayers. He emphasized their determination to prevent informal economy and ensure tax justice for all sectors, stating that their inspections will continue to increase.