Türkiye sees substantial tax hikes on fuel

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Türkiye sees substantial tax hikes on fuel

STORY: Türkiye sees substantial tax hikes on fuel DATELINE: July 18, 2023 LENGTH: 00:01:23 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city 2. various of petrol station 3. various of exchange office 4. various of people shopping in supermarket STORYLINE: Türkiye has raised the special consumption tax on fuel, the latest in a string of tax hikes after the presidential elections in May, local media reported on Monday. The tax on gasoline was increased to 7.52 Turkish liras (0.29 U.S. dollars) per liter from 2.52 liras, Milliyet Daily said, citing an announcement published in the Official Gazette. The tax on diesel oil surged to 7.05 Turkish liras from 2.05, it added. Gasoline prices increased from 28.05 to 34.05 liras per liter and diesel from 26.32 to 32.32 liras. The latest hikes come after the Turkish government substantially raised taxes on services and goods as well as consumer loan taxes earlier this month. The value-added tax on goods and services

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