Minimum wage has been determined! New price hikes announced

Speaking after the fourth meeting of the Minimum Wage Determination Commission, Minister of Labor and Social Security Vedat Işıkhan announced that the minimum wage to be applied in 2025 will be 22 thousand 104 liras.

Following the determination of the minimum wage, tax expert Ozan Bingöl, appearing on the Para Politika program hosted by Özlem Gürses on Sözcü TV, drew attention to the revaluation rate of 43.93 percent and announced the new price hikes coming as of January 1st.

'1 TL PER LITER HIKE IN FUEL'

Bingöl stated, "If the President does not exercise his authority, there will be significant increases in items such as passport fees, motor vehicle tax, and stamp duty as of January 1st.

At the same time, the SCT (Special Consumption Tax) increases on alcohol, tobacco, and fuel will come into effect on January 3rd. We can already say that there will be at least an 8 percent SCT increase on diesel and gasoline. This means an increase of at least 1 lira per liter.

This increase in fuel will further trigger inflation by raising the costs of many products," he said.

'TAX BURDEN ON EMPLOYEES WILL INCREASE'

Drawing attention to the tax burden, Ozan Bingöl included the following statements:

"In 2024, the net salary received by an employee with a gross salary of 100 thousand liras amounts to only 65 thousand liras on an annual basis. There is a difference of 628 thousand liras between the employee's gross earnings and what they actually receive.

This amount goes to the state as SSI premiums, income tax, and stamp duty. This picture shows how heavy the tax burden on employees is."

On the other hand, if no reduction is made in the revaluation rate, serious increases will come to items such as passport fees, motor vehicle tax, and stamp duty as of January 1st.