News
Increase in the special fuel tax by 200% in Turkey
Summary
The Turkish government made an abrupt announcement on Sunday regarding a nearly 200% hike in fuel taxes. This unexpected decision is anticipated to intensify inflationary pressures and place additional strain on household finances. The revised excise duties on different fuel types, such as gasoline and diesel, have already been officially released in the Government Gazette.
Content
The special fuel consumption tax (TV in Turkish) for gasoline was increased to 7.52 lira (0,25 EUR) per liter from 2.52 lira ($0.1), while the tax on diesel oil rose to 7.05 lira (0,20 EUR) from 2.05 lira.
The tax rate change is effective immediately.
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