Those who have intermediaries will pay 1 billion taxes

High taxes will put an even greater burden on citizens, especially vehicle owners, next year. The government, which aims to reduce inflation to 33 percent next year, will raise taxes by about 70 percent that same year. Inflation will rise more than twice as much as expected and taxes will burn the stove and rise to gigantic levels, especially for vehicle owners.

High taxes on alcohol and cigarettes will also maintain their place among the most important financial items in the budget. This year, the government had collected Motor Vehicle Tax (MTV) twice, citing the earthquake. MTV, which was expected to generate 38.8 billion lira at the beginning of the year, was estimated to rake in 71.5 billion lira by the end of the year, thanks to the double tax. The government increased its MTV revenue forecast for next year to 68.962 billion lira.

1.1 TRILLION SCT, MTV, VAT

This amount shows that the MTV collected from vehicle owners next year will increase by 84.3 percent, so the revaluation increase will remain high. An income of 498.5 billion lira is expected from those who buy new vehicles through SCT next year. This 44 percent increase target indicates that new vehicle price increases will also remain high in the new year.

In addition, 455 billion lira will be collected from vehicle owners as Special Consumption Tax (SCT) on fuel. An additional 91 billion lira will be collected as Value Added Tax (VAT) from the fuel SCT alone. Thus, the resources that will flow from vehicle owners to next year’s budget will exceed 113 billion, excluding the VAT that will be collected on the price of vehicles and fuels without SCT.

359 billion lira in alcohol and cigarettes

The government, which consistently imposes high taxes on alcoholic beverages and cigarettes, will increase taxes on alcohol and tobacco by more than 71 percent in 2024. A total of 209 billion lira will enter the state coffers this year, 63 billion alcoholic beverages and 146 billion cigarettes. In 2024, with the more than 70 percent increase in the SCT at the beginning of the year, the tax collected on alcohol will reach 107.5 billion and the tax collected on tobacco and cigarettes will reach 251.5 billion. The resources that will reach the budget from two items will amount to 359 billion lire.