Turkiye significantly raises taxes on goods purchased abroad

Turkiye has decided to significantly raise taxes on goods purchased abroad. The non-taxable limit for goods bought outside the country has been reduced from EUR 150 to EUR 30 (1098,87 TL), reads a decree of President Erdogan published in the State Gazette (Resmi Gazete). The provision comes into force on August 21, TGRT Haber reports. The tax on goods bought in EU countries will increase from 18% to 30%. Taxes on goods bought from other countries will rise from 30% to 60%. If the product exceeds 30 kg, it will be subject to an additional duty of 48%. "Those who shop on online sites like Temu and Amazon will no longer be able to fill their baskets the way they used to!" notes the website "Yeni Safak". ''As a result of the rapid increase in these imports, manufacturers, sellers, chambers of commerce and chambers of commerce and industry are complaining of a loss of sales, production and employment," the Turkish Ministry of Commerce said.

Romania is seeking ways to postpone the closure of its coal power plants

Romania is looking for technical arguments to delay the deadline agreed with the European Commission to close its coal-fired power stations, reports Radio Romania International. Minister Sebastian Burduja said that more time is needed to make the transition to gas-fueled energy sources, given that 15% of the country’s energy production is still dependent on coal. ''Before we close the coal-fired power plants, we need to replace them with gas sources. Unfortunately, these investments are delayed'', Minister Burduja said during the signing of a Memorandum of Understanding on the construction of a gas interconnector between Romania and Serbia (part of the BRUA gas interconnection project - Bulgaria-Romania-Hungary-Austria).

The operator of the large energy complex Oltenia (Complexul Energetic Oltenia) plans to replace coal-fired units with gas sources in Ișalnița and Turceni by 2026. Officially, Romania is required to cease using coal for electricity production by 2032, according to the website 3e-news.

Northern Cyprus is becoming an attractive destination for Russian capital

Northern Cyprus is becoming an attractive destination for Russian capital, especially after the imposition of sanctions against Russia. Turkiye and Northern Cyprus never joined these sanctions, writes the Bulgarian site of Deutsche Welle. Investments are being made in real estate, with vacation homes springing up rapidly in the coastal towns of the unrecognized Turkish Republic of Northern Cyprus. Construction is intense because demand is high, notes Oljas Abdulkhadov, who is in charge of the Russian market at a luxury real estate agency. According to him, prices are still relatively moderate and attractive for middle-class representatives, particularly from countries whose citizens do not have visa-free access to Europe. However, new rules for purchasing real estate by foreigners have been in effect in Northern Cyprus since May. The name of the owner must now be known and ownership is limited to one dwelling. Local authorities are concerned that due to high demand, housing prices are rising dramatically and becoming unaffordable given the low local wages.

Greece opens 18 lighthouses to tourists on August 18

Eighteen lighthouses throughout Greece will open to the public on Sunday, 18 August 2024, on the occasion of the International Lighthouse Day, announced the Hellenic Navy General Staff . Visitors will be able to learn about the role of lighthouses in maritime safety and their significance as part of the cultural heritage.The lighthouses will be open for visits from 10:00 am to 2:00 pm and from 5:00 pm to 8:00 pm. Some of them will allow access to the tower and others will not. The lighthouses are located in Thessaloniki, Santorini, Fthiotida, Kythira, Skopelos, Zakynthos, Gythio, Loutraki, Limnos, Paros, Alexandroupolis, Lakonia, Chalkida, Evia, Lefkada, Ilia, Patra and Nafpaktos.

Published and translated by Kostadin Atanasov