Ministry of Finance and Treasury imposed a record fine on two companies in the steel sector   

The Ministry of Finance and Treasury imposed a fine of 7 billion lire (over $200 billion) on two large companies in the iron and steel sector. These fines are among the highest in Turkey’s tax history.

As a result of comprehensive investigations conducted by tax inspectors under the chairmanship of the Tax Audit Board, companies have been identified that have manipulated price stability in the sector, monopolized the sector, hindering other companies, and harmed the public with false invoices. Companies are accused of making unfair profits through shell companies.

The Financial Crimes Investigation Board (MASAK) also investigates other companies in the sector who may be accused of similar violations and face serious punishment.