The Study of Tax Policies applied by a Government during an Economic Crisis Period

When evaluating the economic measures or policies applied by governments since the past, the main goals are explored. These primary objectives include guaranteeing economic growth and development, maintaining price stability, reaching the highest level of employment, guaranteeing income distribution fairness, and, most significantly, promoting regional peace and security through the achievement of these objectives. Nevertheless, the policies that are adopted may not provide the anticipated effects sometimes. Economic collapse hinders the correct performance of policies and destabilizes economic equilibrium, both because of fundamental issues in states and external forces such as industrialization, capital mobility, etc. The purpose of this study is to examine to what extent tax policies are incorporated and the usefulness of tax policies that are implemented through recessions. The applied areas of tax policies in the evolving economic system with the influence of globalization have been evaluated by comparing the crisis processes experienced in various places and periods in this study, which deals with the economic crises that appeared after 1990 in the world and Turkey. Examples of crises are examined, particularly under the influence of global and liberal economies, variations between developing and developed countries, their impacts, and implemented tax policies. Tax policies, which have been proven to be successful in many aspects of socioeconomic development, are crucial instruments in resolving current or potential economic disparities. Taxes may have a big impact on a country's capital, reserves, and supply-demand equilibrium. During economic crisis periods, it is unavoidable for governments to turn to tax measures to mitigate the impact of the crisis and revive markets.