Post by angryumpire on Jul 18, 2009 18:07:05 GMT 2
A couple of weeks ago the Govt. passed a Bill to monitor the price of petrol/diesel based on the price of oil, and this meant an immediate drop in price of 10 kurus/litre, and the price of oil dropped again which means another reduction in the price of petrol. ;D ;D ;D
Dont you believe it,the Govt. have passed another Bill, on Thursday, July 16, 2009
Government Logic, brilliant!!!!!!
The government has increased the private consumption tax on fuel by 10 to 15 percent.
Turkey’s government has increased the private consumption tax, or ÖTV, on fuel and restaurant meals as it seeks to compensate for a decline in tax revenue elsewhere.
Ankara raised the ÖTV on fuel by between 10 and 15 percent, and upped the sales tax on meals in first-class restaurants and hotels with more than three stars from 8 percent to 18 percent, according to a directive published in the official gazette in Ankara on Wednesday.
The ÖTV tax on gasoline rose an average of 13.4 percent, increasing prices from 1.49 Turkish Liras per liter to 1.69 liras per liter, according to business daily Referans. The change was reflected in a 7 percent boost in prices at the pump, which went up from 2.93 liras to 3.16 liras per liter. The price of diesel oil was increased 15 percent, to 1.15 liras per liter, causing the price at the pump to rise from 2.35 liras to 2.53 liras per liter. Currently, ÖTV makes up 53.4 percent of gas prices.
The decision came as budget figures for the first six months of the year showed government spending jumping 22 percent, even as the global recession reduced tax income by 4 percent over the same period last year.
“The only way the government can ramp up revenues, at least in the short term, is to raise indirect taxes,” Tevfik Aksoy, an economist for Morgan Stanley & Co. in London, said in an e-mail, the contents of which were reported by Bloomberg. “Efforts to improve fiscal data via indirect taxes (rather than curbing expenditures) result in outright inflation.”
According to the International Energy Agency, or IEA, data, the taxes implemented on one liter of gasoline amount to nearly $1.53 in Turkey. In comparison, the tax implemented on the same amount of fuel in the United States is $0.133; in Hungary, $0.9; in Spain, $0.87; and in Italy, $1.19.
Turkey also implements $1.03 in taxes on a liter of diesel fuel compared to $0.92 in Denmark, $0.85 in Switzerland, $0.8 in Brussels and $0.14 in the United States.
