The consequences of the protracted economic crisis in our country are felt more deeply every day. The ruling, which doubled the motor vehicle tax (MTV) in recent days, has sparked a public outcry. Türkiye woke up on the morning of July 7, 2023 with a historic tax increase. Significant price and tax increases have been made in many areas, from value-added tax (VAT) to foreign phone registration fees, from flat fees in fees under the Fee Law No. 492 to gambling fees. The President’s decision to raise taxes was published in the Official Gazette. Let’s look at the details together.
With the President’s decisions published in the Official Gazette, taxes were increased in many different areas.
Some experts warn that tax increases could occur in various areas due to factors such as the retirement of those who have reached retirement age, as well as the recent increase in the number of workers and civil servants. It was expected. Türkiye woke up on the morning of July 7, 2023 with a historic tax increase…
The registration fee for phones brought from abroad has increased to 20,000 Turkish liras after the president’s decision.
The fee, also called the IMEI registration fee, was 149 TL in 2017! Until the end of 2022, it was used as 2732 TL. The IMEI registration fee was TL 6,091 before the President’s latest decision was published in the Official Gazette.
After the decision, the corresponding registration fee has increased 7.3 times in the last 7 months and 134 times in the last 6 years! However, the increases that have drawn reactions from many citizens are not limited to IMEI registration fees.
The value added tax (VAT), which was previously applied at 18 percent on goods and services, has been increased to 20 percent.
VAT is one of the most important income items of the state budget. According to the report of the Ministry of Treasury and Finance on the execution of the budget of the central government for December 2022, approximately one third of budget revenues consist of VAT.
VAT changes will directly affect all Turkish citizens
A 20 percent VAT will be levied on goods in various categories such as furniture, household appliances, electronics, cars, cigarettes and alcohol. In March, VAT was reduced from 18 percent to 8 percent on essentials such as detergents, soaps, toilet paper, wipes, baby diapers, and in the food and beverage sector.
However, these basic consumer goods also received their share of the new tax increase. The 8 percent VAT rate on related products also increased to 10 percent. The VAT rate, which was reduced from 8 percent to 1 percent on basic foodstuffs in the previous period, remained unchanged.
The fixed amount of the fee in tariffs under the Law on Fees No. 492 is also increased by 50 percent.
Accordingly, a 50 percent price increase will apply to notaries, passports, visas and many other official documents. On the other hand, it was decided to increase the taxes levied on income from gambling. The gambling tax for sports competitions was increased to 10 percent, the tax on horse racing was increased to 15 percent, and the tax on other gambling was increased to 20 percent.
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