New Turkish tax, fees, fines and duties for 2014 were announced yesterday and fuel, traffic fines, fags, mobile phone taxes and booze are all going to cost more.
Cars with engines up to 1.3L in the 1-3 year age category will see their tax rise from 517 TL to 537 TL
Cars with engines between 1.3L and 1.6L in the 1-3 year age category will see their tax rise to 860 TL.
Go above 4.0L and the tax rises to an eye watering 19,541 TL!
Road Traffic Fines
The fine for running a red light is up to 172 TL
Break the speed limit and you could be fined 172 TL.
Break the speed limit by more than 30 per cent and that fine rises to 356 TL.
Fags and Booze
The sin taxes are all up. The duty on beer is up 15 per cent and the nation’s favourite tipple Raki is up 10 percent.
This is expected to result in an 8 to 15 percent rise on the price paid by the consumer.
A 57 kuruş tax hike on a pack of cigarettes was also introduced.
The total tax collected per carton will range from 3.22 pounds 3.75 TL.
Retail prices for even the cheapest packet of 20 are now expected to reach 6 TL.
New Car Special Consumption Tax
The OTV tax levies on new car sales will rise from 40 – 130 per cent to 45 to 145 percent.
The rise is expected to add a further 3 to 4 percent to the purchase price of a standard new car.
It seems there is a move to narrow the price marging between diesel and petrol as the duty on a litre of diesel rose by 9 kuruş.
The price of a litre of diesel has hit an all time high with a litre of the fuel costing 4.63 TL in Istanbul. Around 3 TL of the pump price consists of the tax levy.
No increase was announced for petrol of LPG.
Mobile Phone Costs
The special tax levied on mobile phone subscription charges, known as the Special Communication Tax, was increased to 40 percent.
Rental Exemption Increased
Good news for landlords as the exemption amount applied for rental income obtained in the 2014 calendar year rises to 3,300TL.