Mehmet Şimşek announces gradual SCT adjustment for diesel: Tax to be zeroed for the remainder of August

Minister of Treasury and Finance Mehmet Şimşek made a statement on his social media account regarding the gradual Special Consumption Tax (SCT) application implemented for diesel.

Şimşek stated that the fiscal space created through expenditure discipline in the budget and the fight against the informal economy is being used to support the disinflation process. Expressing that geopolitical developments have led to high increases in diesel prices, Şimşek announced that the SCT on diesel will be zeroed for the remainder of August to limit the reflection of this increase on consumers and producers.

Minister Şimşek reported that a gradual application will be transitioned to by the end of the year, stating, "Thus, we aim to reduce the effects on inflation expectations and pricing behaviors, in addition to alleviating cost pressures."

Emphasizing that price stability is a prerequisite for permanent prosperity growth and a fairer income distribution, Şimşek said, "We will continue our policies aimed at ensuring price stability with determination."

News Source: 12punto