Turkey to raise special tax on autos, finance minister states

Turkey will raise its special consumption tax on vehicles, the finance minister stated on Friday, a move that will be applied to all but the least expensive automobiles in what he stated was an action to demands from the industry.

Speaking to press reporters in Ankara, Agbal stated that no boosts would be applied to vehicles that cost less than 40,000 lira ($11,578). The move, which he said would contribute an additional 3.1 billion lira to the budget, is seen as possibly positive for the domestic car market as it would even more increase the cost of imported luxury automobiles.