Fear of Excise Tax Increase in Automobiles

Fear of OTV Zammi in Cars
Fear of Excise Tax Increase in Automobiles

With the additional budget submitted to the Parliament, the expectation of SCT income in motor vehicles increased. This led to comments that either a new SCT hike is coming to vehicles or the tax paid to vehicles will increase with exchange rate hikes. Here are the experts' expectations for changes in vehicle prices and taxes to be paid.

As the expectation of special consumption tax (SCT) income on motor vehicles increased with the additional budget submitted to the Grand National Assembly of Turkey, the concerns of "Is there a new SCT increase for vehicles" arose.

SözcüAccording to the news in; The expected income from the motor vehicle SCT on the sale of brand new vehicles for the whole of this year was 72 billion 449 million liras. It is estimated that this income will increase by 70 billion 285 million 902 thousand TL with the additional budget. Thus, the total revenue will reach 142.4 billion liras.

This led to comments that either a new SCT hike is coming to vehicles or the tax revenue will increase as vehicles will continue to increase due to the high exchange rate.

According to tax experts, both ways will increase the tax burden on the citizens. According to the sector representatives, new hikes are on the way due to the exchange rate for vehicles that have been increased almost every month since the beginning of the year. This will further increase the tax paid to vehicles due to SCT scales.

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