Türkiye raises special consumption tax on diesel oil and gasoline
Turkey announced the lifting of the special consumption tax on gasoline and diesel oil as part of the government’s efforts to address economic challenges.
The tax rate on gasoline increased from 2.52 Turkish liras ($0.1) per liter to 7.52 liras, while the tax on diesel oil increased from 2.05 liras to 7.05 liras.
The impact of these tax amendments, along with the value-added tax, is expected to add nearly 6 lira to the final price of sales of petroleum products, up more than 20 percent per liter, according to Reuters calculations.
Turkey’s current account deficit rose, on Tuesday, to $7.93 billion in May, according to Turkish Central Bank data.
The figure was higher than expected in a Reuters poll at $7 billion.
Turkey’s current account deficit was $5.42 billion in April, which slightly exceeded expectations.
In 2022, Turkey’s current account deficit will reach $48.77 billion.
2023-07-16 10:08:04
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