Turkey Raises Minimum Special Consumption Tax for EVs to 25% (1)

Turkey raises lowest special consumption tax for electric vehicles to 25% from 10%, according to a presidential decree published in official gazette.

• Special consumption tax for EVs gradually rises up to 75% depending on engine power and base prices
• For internal combustion engine cars, minimum special consumption tax set at 70%
  • Special consumption tax for these cars rises up to 220% depending on engine power and base prices
• Special consumption tax set at min. 45% and max. 85% for some plug-in hybrid cars
• New tax revision to add net 0.0019ppt to annual inflation as revisions have both upward and downward ...