The Turkish Radio and Television Corporation, also known as TRT (Turkish: Türkiye Radyo ve Televizyon Kurumu), is the national public broadcaster of Turkey and was founded in 1964. Around 70% of TRT's funding comes from a tax levied on electricity bills and a sales tax on television and radio receivers. As these are hypothecated taxes, as opposed to the money coming from general government funds, the principle is similar to that of the television licence levied in a number of other countries. The rest of TRT's funding comes from government grants (around 20%), with the final 10% coming from advertising.