How much will the passport fee be in 2023? Record passport increase on the way
We will wake up in the morning of the new year with increases in taxes, penalties and fees. While passport fees are regulated with the new year, there may be around a 123 percent increase in fees.
HOW MUCH WILL THE PASSPORT FEE BE?
Passport fee up to 6 months 309.40 from the new year 689.75 Can be. The difference will be 380.35.
Passport fee for 1 year 452.30 from the new year 1,008.31 Can be. The difference will be 556.01.
Passport fee for 2 years 738.40 from the new year 1,646.12 Can be. The difference will be 907.72.
Passport fee for 3 years 1,049.00 from the new year 2,338.54 Can be. The difference will be 1,289.54.
Passport fee for 4-10 years As of the new year, it was 1,478.30 3,295.57 Can be. The difference will be 1,817.27.
The President has the power to reduce taxes or penalties by half the revaluation rate or increase it by up to 50 percent more.
WHAT IS THE REVALUATION RATE?
The Revaluation Rate is calculated in accordance with article 298 of the Tax Procedure Law.
Revaluation Rate refers to the average price increase rate in the General Producer Price Index (IPP) for October of the year to be revalued with respect to the same period of the previous year.
The revaluation rate is determined each year at the beginning of November, when TurkStat announces the inflation rates for October. The Ministry of Treasury and Finance discloses this rate to the public in the Official Gazette with a Communiqué.
LAST YEAR IT WAS 36.2 PERCENT
The revaluation rate for 2022 was announced at 36.2 percent.
According to the Tax Procedure Law, President Recep Tayyip Erdoğan has the authority to reduce the revaluation rate by 50 percent and increase it by 50 percent in taxes and fees.
In the Motor Vehicle Tax, while the President’s authority to increase is 50 percent, his authority to reduce is 80 percent. In the penalties, the announced revaluation rates cannot be modified.
Expresses the average price increase rate in the General Producer Price Index (IPP) for October of the year to be revalued with respect to the same period of the previous year.
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.
