According to TÜİK, inflation was 3.43 percent on a monthly basis and 61.36 percent on an annual basis in October. Consequently, with the October inflation data, the revaluation rate has become 58.46 percent.
With these figures, a 58.46 percent increase can be applied at the beginning of 2024 to Property Tax, Environmental Cleaning Tax, Motor Vehicle Tax (MTV), various fees, vehicle inspection fees, Income Tax brackets, and administrative fines. Furthermore, the President and AKP Chairman Recep Tayyip Erdoğan has the authority to change this rate.
News Source: 12punto
