Billions of liras in SCT revenue from alcohol and tobacco: Up by 69 percent!

According to data from the General Directorate of Public Accounts under the Ministry of Treasury and Finance, total SCT revenue increased by 94.7 percent to 817.2 billion TL, and total tax revenue rose by 91.3 percent to 4 trillion 501 billion TL in 2023 compared to the previous year.

In 2023, the Treasury's SCT revenue from alcoholic beverages increased by 58 percent to 69 billion TL, and from tobacco products by 74 percent to 176.6 billion TL compared to the previous year. 

GIANT INCREASE IN VEHICLE SCT 

One of the items that showed the highest increase in budget revenues in 2023 was the SCT collected from motor vehicles.

This item rose by 164 percent in 2023 to 441.2 billion TL.

Motor Vehicle Tax (MTV) also increased by 70 percent in 2023 to 40.2 billion TL.

In Turkey, automobile and light commercial vehicle sales increased by 57.4 percent last year compared to 2022, reaching a record of 1 million 232 thousand 635 units. In addition to the increase in taxes, this rise in sales also boosted the SCT collected on motor vehicles. 

BUDGET DEFICIT EXCEEDED A TRILLION LIRAS 

Last year, the double payment regulation for MTV, implemented due to earthquake-related expenditures, was also effective in the increase of this item.

On the other hand, the budget deficit hit a record high of 1 trillion 375 billion TL in 2023, with 842.5 billion TL in December alone. The ratio of the deficit to the national income also reached a 21-year high at 5.4 percent.

News Source: 12punto