SCT hike on cigarettes and alcohol is on the way

The June inflation data to be announced by the Turkish Statistical Institute (TÜİK) on July 3 will also clarify the increase in the Special Consumption Tax (SCT) on cigarettes and alcoholic beverages. Based on the inflation data for the first 5 months, an increase of at least 12.92 percent in the SCT is already certain.

WHEN AND BY HOW MUCH WILL CIGARETTES BE HIKED?

With the addition of June inflation, the SCT hike on cigarettes is expected to reach the 14 percent level. In line with this rate, an average increase of 5 TL in cigarette prices is projected as of Thursday.

HOW MUCH WILL ALCOHOL BE HIKED? HOW MUCH WILL THE PRICE OF BEER INCREASE?

Erol Dündar, President of the Monopoly Dealers Solidarity Association, announced the expectations for the price hikes on his social media account. Dündar used the following expressions in his post:

"We believe that the increase in Special Consumption Tax (SCT) rates as of July will be reflected in cigarettes and alcoholic beverages as a price hike. According to our calculations and estimates, we foresee an average price increase of 5 TL on cigarettes, 20 TL on beer, and 15 percent on other alcoholic beverages."

News Source: 12punto