Cigarette price hike calculation from tax expert Bingöl: How much of it is tax?

Following yesterday's 8 lira price hike on cigarettes, tax expert Ozan Bingöl explained the tax component of the increase.

Don't leave your news choices to an algorithm - decide for yourself what you read. Add 12punto to your preferred sources! Don't leave your news to an algorithmYou decide which source to read; add 12punto to your preferred sources.

Cigarette price hike calculation from tax expert Bingöl: How much of it is tax?

The 8 TL price hike on the Winston cigarette group yesterday became a trending topic on social media.

With the hike, the most expensive cigarette in the group rose to 69 TL, while the cheapest rose to 58 lira.

"IT IS ESSENTIALLY A TAX INCREASE"

Calculating how much of the hike is tax via his X account, tax expert Ozan Bingöl stated the following:

"Approximately 80-85 kuruş of every 1 lira price hike that manufacturers make or will make on cigarette sales turns into tax due to the taxation regime. Therefore, although price increases on cigarettes appear to be a price hike in form, they are essentially a tax increase."

Approximately 80-85 kuruş of every 1 lira price hike that manufacturers make or will make on cigarette sales turns into tax due to the taxation regime. Therefore, although price increases on cigarettes appear to be a price hike in form, they are essentially a tax increase.#cigarette #hike
— Ozan Bingöl (@ozanbingoll) April 3, 2024