SHAFAKNA TURKEY. By a Presidential Decree published in the Official Gazette, changes were made to the base of the special consumption tax based on the rates for passenger cars.
According to the decree, which will come into force on December 1, the base threshold for excise duty on cars has been increased to 64,000-140,000 liras.
The base for the SCT 45% rate for cars ranges from 120,000 lira to 184,000 lira; the base for the rate of 70 SCT has been increased from 200 thousand liras to 280 thousand liras.
For hybrid vehicles with an electric motor power of more than 50 kilowatts, an engine cylinder capacity of not more than 1600 cubic meters. cm and not more than 1800 cu. see the base level of SCT, which is taken as the basis for the 45 percent SCT rate, ranges from 130 thousand liras to 228 thousand. lire and a 50 percent single tax rate. The tax base threshold, which was taken as a basis, was increased from 210 thousand lira to 350 thousand lira.
What is the regulation of the tax base, the increase in the SCT base?
- The tax base expected by those looking to buy a new car is also defined as the cost structure used to indicate the tax amount.
- When the base SCT limit increases, car prices go down.
- The Decree increased the upper limits of the excise tax base.
- Thus, the tax collection from some vehicles is reduced.
- With the basic layout, there will be a price reduction for cars with an engine displacement of 1600 cc. cm and a sale price of less than 594 thousand 720 lire.
- Car dealers say the change in SCT’s base removes uncertainty about used cars.
- Mobility is expected in the automotive market with changes made to the Special Consumption Tax (SCT) base for passenger cars.
Goal: reduce the current account deficit
It is envisaged that the regulation will be reflected in the prices of some cars as a discount, as a result of the increase in the thresholds of the excise tax base, which are the basis for the UST rate, especially for categories in which domestically produced cars are concentrated.
The decision is aimed at reducing prices in this segment by increasing the tax base in categories where domestic cars are concentrated, which will reduce the current account deficit by shifting preferences for these domestic cars.
In addition, the amendment is intended to make a positive contribution to inflation by reducing prices by increasing the tax base in categories where domestic cars are concentrated.
Expected discount rates
- While the prices for cars with a selling price of more than 594 thousand 722 liras, including taxes, for cars up to 1600 cc. The threshold for the excise tax base, taken as the basis for the 45% SCT rate, is from 120 thousand liras to 184 thousand liras Reducing the price of cars from 7 thousand to 54 thousand liras,
- Similarly, as a result of the increase in the excise tax threshold, which is based on the 50% SCT rate, from 150 thousand Lira to 220 thousand Lira, the price of cars with a sales price of 369 thousand 106-467 thousand 280 Lira, including taxes, decreased from 43 thousand to 78 thousand lire,
- With an increase in the excise tax threshold, which is taken as the basis of the 60% SCT rate, from 175,000 to 250,000 liras, the average price of cars with a sales price is 467,282 – 531,000 liras, including taxes. , decreased from 52 thousand to 59 thousand lire,
- As a result of the increase in the excise base, taken as the basis of the 70% SCT rate, from 200 thousand Lira to 280 thousand Lira, the price of cars with a sales price of 530 thousand 002 – 594 thousand 720 Lira, including taxes, is expected to decrease from 29 thousand 500 to 33 thousand lire.
No changes in the databases of imported cars
On the other hand, no changes were made to the bases of ordinary cars with an engine displacement of more than 1600 cc. see and cars that were almost entirely imported.
Thus, with the change in fiscal policy; It is assumed that the demand for expensive imported cars will be directed to cars subject to low VAT rates, while cars with lower prices will be imported, car sales in the domestic market will increase, the volume of imports will decrease due to this, and their composition will change and contribute to a reduction in current account deficit. AA
Random Post
- Potatoes can help you lose weight
- 5 Signs You’re Hopeless and Chronically Depressed
- Robin Brooks: Turkish lira depreciated by 54%!
- Russian and Ukrainian ombudsmen in Ankara
- HERE YESTERDAY EXCHANGE RATES
- There is another benefit of fasting!
- Zuzubak fights for gold!
- Erdogan’s Minimum Wage Statement! – Last Minute Türkiye and world news
- The benefits of this herb are endless.
- How much was the increase for which car?