Economy in Turkey: Another hike in excise duty levied on natural gas

An increase was made in the amount of special consumption tax (excise duty) levied on natural gas. The excise duty rate on natural gas has been increased by 224 percent. Tax Expert Ozan Bingol said, “Dear friends, I don’t want to upset your spirit any more, but the excise duty on natural gas used in residential buildings has also been tripled.”

The Decision of the President of the Republic on the Re-Determination of the Excise Duty Amounts for the Goods Included in the List Numbered (I) Attached to the Special Consumption Tax Law entered into force through publication in the Official Gazette.

Accordingly, the excise duty amount became 0.0747 liras per standard cubic meter of natural gas and 2.7944 liras per cubic meter of natural gas used as fuel in motor vehicles.

The previous excise duty rate for natural gas was set at 0.0230 lira per standard cubic meter and 0.8599 lira for natural gas used as fuel in motor vehicles.

“IT HAS BEEN TRIPLED”

Tax Expert Ozan Bingol also announced the arrival of excise duty on natural gas used in residential buildings in a share made on his social media account.

Bingöl said in his share, “Dear friends, I don’t want to upset you, but the excise duty on natural gas used in residential buildings has also been tripled. The excise duty, which is 0.0230 TL in Sm3, has been increased to 0.0747 TL with today’s decision! In addition, the VAT rate on natural gas had recently been raised to 20 percent.” (HalkTV)