New regulation introduced for automotive SCT rates: Here are the new rates

Special Consumption Tax (SCT) rates for the automotive sector have been redefined. According to the new regulation, SCT brackets have been set between 70 percent and 220 percent.

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New regulation introduced for automotive SCT rates: Here are the new rates

A decision regarding the redetermination of Special Consumption Tax (SCT) rates and the tax bases for certain goods included in list (II) attached to the Special Consumption Tax Law has been published in the Official Gazette and has entered into force.

According to the decision, which came into effect with the President's signature, SCT brackets have been set between 70 percent and 220 percent.

The lowest SCT rate for electric vehicles has started at 25 percent.

While the regulation entered into force upon its publication in the Official Gazette, the provisions of the decision will be executed by the Ministry of Treasury and Finance.

SCT rates were increased twice simultaneously through both the law and the Presidential Decree.

Accordingly, 3 new SCT brackets of 90 percent, 100 percent, and 170 percent have also been introduced for vehicles.

With the new regulation, the SCT bracket for electric vehicles, which was previously in the lowest 10 percent bracket, has been increased to 25 percent.

In this context, the lowest base price for the domestic car TOGG is expected to be 2 million 175 thousand liras.

The Tesla Model Y Juniper, which attracts great interest in Turkey, is also expected to be sold starting from 2.1 million liras.