INCREASE IN OTV TAX

[angryumpire]

The Govt. in their infinite wisdom has approved an increase in the Special Consumption Tax (OTV) on various goods.

The tax rate for motor vehicles with engine volumes higher than 2,000 cc was increased from 84 to 130% and will result in a 25% increase in prices,

The tax rate on cars with engine volumes of between 1,600 and 2,000 cc was also increased, producing a 12.5% price increase.

The OTV on cigarettes was increased by 6% while the tax on alcoholic drinks was increased in rates that varied according to the type and volume of the drink.

The tax on cellular phones was increased from 20 to 25%.

THE CASH COW STRIKES AGAIN,

The Govt. is short of cash again.

[angryumpire]

The Turkish government will decrease the much-criticized special consumption tax on tobacco products from 69 percent to 65 percent until the end of 2012, it announced yesterday in the Official Gazette.

Someone has seen sense for once.

The ciggie manufacturers have still implemented a 1 lira a packet increase.