The increase rate in Turkey in 2024 for taxes, fines and fees is 58.46%

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The increase rate in Turkey in 2024 for taxes, fines and fees is 58.46%
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The increased rate for taxes, fines and Costs in Türkiye It will be implemented in 2024 is 58.46 percent.

Increased tax rate in Türkiye

The domestic producer price index has increased by 58.46% compared to the 12-month average in October. This rate represents the incremental rate that will apply to taxes, fines and fees in 2024.

If President Erdoğan does not use her authority to increase or decrease, taxes, fines and fees will increase by 58.46% in 2024.

The Turkish Statistical Institute (TUIK) announced data based on the revaluation rate for 2023 for the application of taxes, fees and fines in 2024. Accordingly, next year; Taxes, fines and duties will increase by 58.46%.

Producer price inflation (PPI), which is the basis of the revaluation rate determined by the Ministry of Treasury and Finance, has increased by 58.46% compared to the 12-month average at the end of October.

Real estate tax, environmental cleaning tax, MTV, all kinds of tolls, car inspection fee, income tax tariff sections and administrative fines will increase from this rate.

But President Erdoğan has the authority to reduce this rate by 50% and increase it by 50%. If President Erdoğan does not use her powers to increase or decrease according to the Tax Procedure Law, taxes and fees will increase by 58.46 percent in 2024.

The rate of tax increase in Türkiye

President Erdogan last year of this authority in the data taxMotor vehicles used and it was decided that the tax revaluation rate on motor vehicles, which was set at 122.9%, will be applied to 61.5% in 2023.

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