E-commerce of Turkey to reach 350 billion dollars

Turkish Minister in charge of Finance, Mehmet Simsek evaluated the observation of electronic trade, tax payer consistency for creating the legal and tax sub-structure in e-commerce operations, recording the sector, and providing tax consistency of the entrepreneurs operating in e-trade in Turkey.
Turkish Minister of Finance, Mehmet Simsek stated that all companies trading in electronic environment are set automatically thanks to the program that was obtained from the Netherlands, and the records of their operations are held.
Simsek stated that traditional trade is moved to virtual environment partially; and while this offers important opportunities, it becomes also significant in terms of informality and taxes.
The story of Amazon
Simsek, giving an example to grab the importance of e-commerce, explained that a broker decided to sell books on discount online in 1995; and the owner of this company, which is Amazon, reached 148 million dollars of income by the 2nd year of its set up; while during the same period, the endorsement of a bookstore that has the most common stores and web of distribution in the USA became 2.8 billion dollars. He also added that Amazon’s sales volume was 48 billion dollars in 2011.
Stating that these kinds of traditional stores like this are facing the pressure from virtual environment, Simsek added that Turkey’s business is to open way for virtual business, not to block it.
According to a research made last year, it was also stated that the ratio of trade to GDP in developed countries is almost at 3.5%¸while this is a little below 1% in Turkey. Simsek also stated that e-commerce develops very fast in Turkey as Internet usage ratio also increases.
2023 target in e-trade
According to another research made in Turkey, the amount of card-payment on e-trade increased from 5.5 billion Liras in 2007 to 30.7 billion Liras in 2012. Simsek added that this number is expected to reach 350 billion Liras by 2023.
Simsek also stated that the growth of domestic market, the amount of young population, and consumption expenses per capita which keeps increasing in Turkey make it one of the attractive countries to invest in.
While electronic trade volume has been increasing with pace, it also becomes important that tax losses and the legal terms of this issue, Simsek added; saying that the next target is towards controlling these fields in Turkey.
Simsek also stressed that a target has been realized by Turkey, and he remarked that the advanced countries in this area in the world are analyzed and observed by Turkey.
Stating that the Netherlands is one of the most advanced countries in monitoring e-trade and thus, preventing non-recorded economy, Simsek added that they cooperated with the Netherlands last year in the scope of inter-government cooperation programme.
Info portal: www.egirisimci.gov.tr
Simsek emphasized that e-commerce is a new area; and some tax payers do not even think that they have to pay taxes; adding also that a new portal, a website, has been prepared to meet the deficiency in the sector, especially in order to transfer information about the issue, which is www.egirisimci.gov.tr. He added that the program of the Netherlands is adapted to Turkey; and the firms trading in virtual environment are set easily thanks to this program. Therefore, these make Turkey even more powerful in this field.
The Minister also pointed out that there are serious operations and notices online in terms of renting and the setting of current value; saying that with the mentioned program, it will even be possible to set those data as well, in time.
The point is to make the triggering regulations for e-commerce
Adding that a new authority has been created in the scope of revenue administration of Turkey; Simsek pointed out that a bunch of studies are going to be made regarding especially the monitor of e-commerce in general; and in the issue of preventing non-recorded economy, which e-commerce is actually very available for, Turkey has gone a long distance, Simsek added.

Source:
http://www.portturkey.com/internet/4872-e-commerce-of-turkey-to-reach-350-billion-dollars

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