ANKARA, July 24 (Xinhua) -- Türkiye introduced new revisions to its special consumption tax rates and tax base thresholds for passenger vehicles, including fossil fuel-powered, hybrid, and electric models, according to a regulation published in the Official Gazette on Thursday.
The revisions, made under a law designed to protect the value of the Turkish currency, bring notable changes to the taxation of both domestically produced and imported vehicles.
According to the new regulation, tax rates for domestically produced passenger cars have been reduced by 5 and 10 percentage points, while the rates for imported luxury passenger vehicles have been increased by 10 to 20 percentage points.
Under the new rules, the special consumption tax for fossil fuel-powered vehicles, including gasoline, diesel, and LPG models, now ranges from 70 percent to as high as 220 percent, while hybrid vehicles that do not plug in will be taxed at a rate of 70 percent.
For fully electric vehicles, all rates have now been raised by 15 percentage points.
Similarly, plug-in hybrid vehicles have also seen a 15-point hike in tax rates, revising the previous rates of 30 percent, 60 percent, and 70 percent to 45 percent, 75 percent, and 85 percent. ■
