Turkish top court annuls 1.82 billion of DMG taxes, fines

Doğan Media Group, Turkey’s biggest media group, said Turkey’s Council of State canceled back taxes, fines and interest of 1.82 billion liras ($1.1 billion.) The amount includes 1.04 billion liras of Value back taxes and fines, and 786 million liras of interest and charges. The tax demand is related to Doğan TV Holding,

The tax office can appeal the decision only once, according to the DMG. By requiring surety bonds for the total possible fine, the Turkish tax authorities financially crippled the Dogan Media Group, leading to the resignation of their owner and his decision to sell the entire asset. Annulment of taxes and fines in this magnitude will make the group much more attractive for potential buyers.

Source: Hurriyet Daily News


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: