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Upper limit for tax-free vehicles determined

Following the Turkish Statistical Institute's (TÜİK) announcement of the data forming the basis for the revaluation rate at 58.46 percent, the potential Motor Vehicle Tax (MTV) amounts and the upper limit for purchasing new vehicles with Special Consumption Tax (ÖTV) exemption have been determined.

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Upper limit for tax-free vehicles determined

The 2024 upper limit for new vehicle purchases by citizens with disabilities with Special Consumption Tax (ÖTV) exemption has been determined. Within the scope of the President's authority, the MTV increase rate for 2024 will be set at a minimum of 11.69 percent and a maximum of 87.69 percent.

Accordingly, while the lowest MTV for new cars will be 3 thousand 359 liras, there will be an increase of 587 thousand liras in the 2024 upper limit for new vehicle purchases by citizens with disabilities with Special Consumption Tax (ÖTV) exemption.

Thus, the upper limit, which continues to be applied as 1 million 4 thousand 200 TL this year, will increase by 58.46 percent to 1 million 591 thousand 255 TL as of January 1, 2024.


News Source: 12punto