Ozan Bingöl announces SCT hike for fuel, alcohol, and tobacco products, calling it the 'most optimistic' estimate

Tax Expert Ozan Bingöl has announced his estimates for the rate of increase to be applied to the fixed Special Consumption Tax (SCT) amounts on fuel, alcohol, and tobacco products.

According to data released yesterday by the Turkish Statistical Institute (TÜİK), when considering the 12-month averages as of November, consumer prices increased by 53.40 percent, and domestic producer prices increased by 53.15 percent.

In a post on his social media account X (Twitter), Tax Expert Ozan Bingöl stated that even if the D-PPI for December is announced as zero, the fixed SCT amounts on fuel, alcohol, and tobacco products will be increased by approximately 25 percent, which he described as the "most optimistic" estimate.

WATCH OUT FOR JANUARY 3!

Bingöl said, "The SCT amount on one liter of alcohol, which is 845.96 TL today, will become 1,057.45 TL on January 3, unless a contrary decision is made. This increase will be reflected in the sales prices of these products as a price hike."

Even if the D-PPI for December comes in at zero, an automatic increase of approximately 25% will be applied to the fixed SCT amounts on fuel, alcohol, and tobacco products, based on the most optimistic estimate. The SCT amount on one liter of alcohol, which is 845.96 TL today, will become 1,057.45 TL on January 3, unless a contrary decision is made. This...

— Ozan Bingöl (@ozanbingoll) December 5, 2023

News Source: 12punto