Varlik Vergisi

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Literally a "capital tax", the Varlık Vergisi was a one-off wealth tax imposed on wealthier citizens in Turkey on November 11, 1942. Although officially imposed on all wealthy Turkish citizens, those who suffered most severely were non-Muslim Jews, Armenians, and Greeks, who controlled much of the economy.

During World War II, Turkey remained neutral until February 1945. Officially the tax was designed to raise funds to defend the country in case of invasion, however it is argued that the main motivation was to reduce the minority populations' control over the economy.

Its effect upon the Greek minority was devastating: Although Greeks formed only 0.5% of the total population, they were forced to pay 20% of the tax, a total of 80 million Turkish liras. Businessmen were often assessed at rates far in excess of the actual value of the properties and those that could not pay were forced into work brigades. As Greece was militarily occupied by the Axis powers in 1942, there was no official voice to protest for the Greek minority.

The program ended in July 1943, when the last of the work brigades were disbanded.