Tax Expert draws attention to likely increase in special Consumption Tax on fuel, alcohol and tobacco after January 3

In a social media post, Tax Expert Ozan Bingöl disclosed the estimated rate of increase for fixed ÖTV amounts on fuel, alcohol, and tobacco products, even if the December Consumer Price Index (Yİ-ÜFE) were to be zero.

According to data released by the Turkish Statistical Institute (TÜİK) yesterday, considering 12-month averages as of November, consumer prices increased by 53.40%, and domestic producer prices increased by 53.15%.

In his Twitter post, Tax Expert Ozan Bingöl stated that even if the December Yİ-ÜFE were zero, he predicted an approximate 25% increase in the fixed ÖTV amounts for fuel, alcohol, and tobacco products, terming this estimate as the ‘most optimistic.’

PAY ATTENTION TO JANUARY 3

Bingöl highlighted, “If a decision to the contrary is not made, the ÖTV amount for one liter of alcohol, currently 845.96₺, will be 1,057.45₺ on January 3. This increase will be reflected in the selling price of these products as a price hike.”