Economy in Turkey : Tax hike surprises continue one after the other

VAT has been increased to 20 percent, the registration fee for mobile phones brought from abroad has become 20 thousand TL, 50 percent increase has been made in fees including passports.

With the “BAG BILL” proposal, new ones were added to the additional tax surprises announced to the public the previous day.

With the regulation published in the Official Gazette, the general VAT rate was increased from 18 percent to 20 percent. The 8 percent VAT applied for some goods and services was increased to 10 percent.

ALL FEES EXCEPT FOR DRIVER’S LICENCEINCREASED BY 50 PERCENT

In addition, the fee for using the phone brought with the passenger was increased to 20 thousand liras. An increase of 50 percent was made in all fees subject to the Expenditure Law No. 492, except for the Driver’s license fee.

The BSMV (fee) for consumer loans has been increased from 10 percent to 15 percent.

TAX INCREASE ON CHANCE GAMES

There has also been a tax increase on “games of chance”. The tax rate was increased from 5 to 10 percent on joint bets based on sports competitions, from 7 to 14 percent on horse races, and from 10 to 20 percent on other games of chance.