How much did the price of each product increase with the VAT increase?

According to the Presidential Decree published in the Official Gazette, 18 percent VAT will be applied as 20 percent and 8 percent VAT will be applied as 10 percent. By virtue of the execution of the Ministry of Finance, the VAT increase was reflected in the prices in accordance with article 28 of the Value Added Tax Law No. 3605.

INCREASE IN DRINKING AND SMOKING

After the decision, a VAT increase was added to cigarettes and drinks that came with the SCT last week.

After the change, the effective VAT rate calculated on the sale price of cigarettes increased from 15.25 percent to 16.67 percent. This development was reflected in the prices and cigarettes increased by 5 TL.

According to the current cigarette price list, the lowest cigarette price was TL41 and the most expensive cigarette was TL48.

In addition, after the rise of the SCT last week to raki, vodka, whiskey and gin, today came the rise in VAT.

HIGH IN TECHNOLOGICAL PRODUCTS

Along with the increase in the VAT rate, technological products have also increased.

After the elections, Apple Turkey, which increased its products 4 times with the increase in the exchange rate, this time increased VAT. Thus, the most expensive iPhone model went from 85,999 TL to 87,457 TL.

FUEL INCREASE

Due to the increase in the dollar exchange rate after the elections, the VAT increase reached fuel prices, which today increased rapidly. After the VAT on fuel products was increased from 18 percent to 20 percent, gasoline and diesel increased.

With the increase in the VAT rate, the price per liter increased by 40 cents for gasoline, 38 cents for diesel and 15 cents for automotive gas (LPG).

With tonight’s rise, the price of a liter of gasoline rose to TL 26.65 in Istanbul, TL 27.13 in Ankara and TL 27.16 in Izmir. The price per liter of diesel has risen to approximately TL 25.20 in Istanbul, TL 25.67 in Ankara and TL 25.79 in Izmir.

With the last increase, the rate of increase in the last 2 months after the election was 34.5 percent for gasoline and 35.6 percent for diesel.

SECOND HIRING IN ONE WEEK FOR TOGG

The VAT hike was also reflected in car prices. After the 27 percent increase last week for electric vehicles produced by the Turkish Automobile Initiative Group (TOGG), the VAT increase came today.

With the increase on July 5; The “V1 RWD” standard range version of the Togg T10X model, which went from 953 thousand TL to 1 million 207 thousand TL, increased to 1 million 227 thousand 500 TL with the VAT increase that came into effect today. Therefore, the price increased to 274 thousand 500 TL in one week.

The price of the standard range “V2 RWD”, which increased from 1 million 55 thousand TL to 1 million 307 thousand TL last week, increased to 1 million 329 thousand 500 TL today.

The price of the long-range version “V2 RWD”, which increased from 1,215,000 TL to 1,537,000 TL last week, reached 1,563,500 TL today.

VAT ON MEDICINES IS 10 PERCENT

Nurten Saydan, president of TEIS, stated that the prices of 14,900 types of medicines will increase with the increase in the VAT rate on pharmaceuticals from 8 to 10 percent, saying that “VAT on vitally important products must be reduced to a symbolic value. value to ensure financial monitoring”.