Big Rise for MTV Payouts: How Much Will the 2023 Motor Vehicle Tax (MTV) Be?
MTV, which varies by vehicle features, will increase by the year 2023. The amounts of taxes, fees, and penalties in laws related to various taxes and fees will increase by 123 percent.
HOW MUCH WILL MTV 2023 BE?
* In 2022, the tax on a car from 1 to 3 years of less than 1,300 cylinder capacity is 1,313 lira. If there is an increase of 122.93 for the new year, MTV will be 2,927 lira.
* The tax on cars between the ages of 1 to 3 years with a cylinder volume of 1,301 – 1,600 will increase from 2,517 lira to 5,612 lira.
* While the car tax in the age range 1-3 with a displacement of 1601 – 1800 is 4,445 lira, it will increase to 9,912 lira from the new year.
* While the tax for vehicles from 1 to 3 years old with a displacement engine from 1801 to 2000 is 7 thousand 3 lire, this price can be 15 thousand 616 in the new year.
THE PRESIDENT HAS THE AUTHORITY TO REDUCE
President Recep Tayyip Erdoğan has the authority to reduce or increase this figure by 50 percent.
In accordance with the General Notification of the Tax Procedure Law of the Ministry of Finance and Finance, published in the Official Gazette (Revenue Administration) on November 27 of last year, the amounts of taxes, fees and penalties included in the laws for miscellaneous taxes and fees, including MTV, it was 36 percent. It was set at 20 percent.
With the decision published in the Official Gazette, this rate was reduced by 11.20 percent and MTV’s revaluation rate was reduced from 36.20 percent to 25 percent.
WHAT HAPPENS IF MTV IS NOT PAID?
If you delay paying your motor vehicle tax, you may be required to pay a higher fee, as the late payment fee will be added to your premium each month. If you delay the payment too much, the Ministry of Finance intervenes to collect your tax debt and sends a warning. If no payment is made as a result of this warning, your bank accounts may be seized.
HOW IS MTV PAID?
MTV, paid for by car owners in two installments each year, is paid in January and July.
– Payment can be made by credit card and debit card by logging into the “Debt Inquiry and Payment” section at gib.gov.trbetween 02:00 and 22:00.
– The payment can be made through the Internet banking of the contracted banks or through the application in the bank branches.
– Taxes can be paid by request to other addresses of the Treasury that have taxpayer registration in terms of MTV or that are authorized to collect MTV.
– It is also possible to pay MTV through e-Government
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
