Minister of Finance Mehmet Simsek announced the completion of ongoing works for a simplified legislation that construction industry awaited for a long time. He also said that the new legislation will be applied starting December and will remove the grey areas in the industry. In an interview with Anatolia Agency (AA), Minister of Finance Mehmet Simsek reinforced their willingness of preventing shadow economy and informed on the simplification processes of mind bugging and complex legislations. Giving the good news for the construction industry, the minister stated that the long awaited simplification process of the legislation is finished and the industry will now be able to clearly see the criteria they are taxed on. Elaborating the specified works, Simsek said: “Tax legislation is now clearer on taxing categorization for every building purposes such as commercial and cooperative construction purposes on one’s own land, construction for self-use, construction in return for flat, revenue sharing construction on others’ land.” Simsek also added that he believed that a simplified legislation will pave the way for the industry and stated: “The industry will now know better how to pay their taxes. Thanks to the new legislation, the government will collect its taxes regularly and shadow economy will be prevented.”