The SCT collected from fuel quadrupled
The central government budget had a surplus of 51.3 billion TL in August and a deficit of 383.4 billion TL in the January-August period.
The increase in taxes imposed on citizens after the elections became effective in the budget, which had a surplus of 3.6 billion TL in August last year, giving a surplus of 51.3 billion TL TL in the same month this year.
Tax revenue, which amounted to 271.9 billion Turkish lira in August last year, increased to 543.2 billion Turkish lira in August this year. Of this figure, 240 billion TL corresponded to direct taxes and 303.2 billion TL to indirect taxes. Although it was the month for paying corporate tax, the share of direct taxes remained at 44.2 percent of the total.
HUGE INCREASE IN FUEL TAX
The increase in tax revenue was also affected by the large increase in the special consumption tax (SCT) and the value added tax (VAT) on fuels in the second half of July.
The SCT collected from oil and natural gas products, which was 7.6 billion TL in August last year, increased by 263 percent to 27.6 billion TL in the same month this year.
In the January-August period, SCT’s revenue from oil and natural gas products reached 75.9 billion Turkish liras.
While the government increased the VAT rate on fuel from 18 percent to 20 percent in July, the SCT on gasoline was increased from 2.52 TL per liter to 7.52 TL, and the SCT on diesel was increased increased from 2.05 TL to 7.05 TL.
Fuel prices increased from approximately 19 TL to 40 TL after the elections, due to tax and exchange rate increases, as well as increased oil and product prices.
142 BILLION TL FROM ALCOHOL AND TOBACCO
The impact of consecutive tax increases on alcohol and tobacco was also felt in the budget.
The SCT collected from tobacco and alcoholic beverages, which was 13.9 billion Turkish lira in August last year, increased to 24.3 billion Turkish lira in August this year.
In the January-August period, SCT collected from alcohol and tobacco reached 142 billion Turkish liras.
The Special Consumption Tax is doubled
SCT’s total revenue, which amounted to 39.4 billion TL in August last year, increased by 164 percent to 104.1 billion TL in August this year.
SCT’s total revenue, which was 241 billion TL in the January-August period last year, reached 512.8 billion TL in the same period this year.
The SCT collected from motor vehicles, which was 14.7 billion TL in August last year, increased by 219 percent to 46.9 billion TL in the same month this year. For the January-August period, the figure increased from 86.9 billion TL to 256.7 billion TL.
Although the special consumption tax reminds us of the tax collected for luxury consumption, the State actually collects the SCT even from natural gas burned at home and cola soft drinks.