The state increased its SCT revenue target from automotive by 70 percent for the end of the year. However, mathematical calculations reveal that this target will be achieved very comfortably even without the SCT hike. According to statistics, there is no need for a possible increase in SCT.
Everything offered for sale in Turkey has recently been hiked. The reason for this is Increasing VAT from 18 percent to 20 percent. The state is trying to meet the money needs of the treasury by increasing taxes. In this context; One of the tax items that contribute the most to the treasury of the Republic of Turkey. excise duty on new cars.
The Turkish Grand National Assembly (TBMM), yesterday additional budget proposal decided to approve. With this approval, it was decided to provide an extra appropriation of 1 trillion 119 billion 514 million 513 thousand liras to the public. On the other hand; Some target tables have also changed as part of the proposal. In this context; According to Emre Özpeynirci’s post One of the items that changed was zero car SCT. The state, the amount of SCT that it aims to collect 203.6 billion TL at the beginning of the year, 346.5 billion TL by increasing 70 percent as revised.
Could increasing the target be a harbinger of the SCT hike?
Everyone knows that the tax burden in Turkey is already too high, but when math starts talking, one’s lips go numb. Providing important data about the automotive world According to the statement of Erol Şahin from EBS Consulting government collected in the first five months of the year. 10% of all taxes covered from the SCT on new cars. So much so that only in May 34 billion 985 million 898 thousand TL SCT was collected. This amount was recorded as 125 billion 99 million 482 thousand TL for the whole year. In other words, the government paid a serious part of exactly 61.44 percent of the amount it targeted at the beginning of the year. in the first five months of the year already collected.
Here are these statistics, a possible hike in the SCT in this process where everything is going up. may not be needed reveals. Because, parallel to the increase in exchange rate and inflation, automobile prices are increasing day by day, and naturally the SCT collected from vehicles also rises. Here we can talk about a simple math: SCT, collected in April, was recorded as 28 billion 302 million 487 thousand TL. This amount is in May. increased by 23.61 percent.was 34 billion 985 million 898 thousand TL.
If the increase between April and May continues until the end of the year, when will the targeted SCT be reached?
Now we will do some simple math with you. In this mathematics, we consider that the situation in April-May remains constant in periods such as May-June, June-July, and the SCT is calculated. When will you reach your new goal? we will look.
| Period | SCT collected under fixed conditions |
|---|---|
| April May | 28,302,487.000 TL |
| May June | 34,985,898,000 TL |
| June July | 43,246,068,000 TL |
| July August | 53,456,464,000 TL |
| August September | 66,077,535,000 TL |
| September October | 81,678,441,000 TL |
| October November | 100,962,720,000 TL |
| November December | 124,800,018,000 TL |
We have already said that the total SCT amount collected in the January-May 2023 period is 125 billion 99 million 482 thousand TL. When we combine this with the imaginary table above, In the August-September season It reveals that a total of 322 billion 865 million 447 thousand TL SCT will be collected, which will almost complete the year-end target of 346.5 billion TL. Every SCT to be collected as of September, will leave extra money in the treasury. Let’s say that we are talking about a huge amount of money like 307 billion 441 million 179 thousand TL here.
However, this possibility valid if both car prices and sales numbers continue as they are. A decrease in sales or increases means that this total will also decrease, but it is foreseen that the targeted amount for the end of the year will be met without the need for a SCT increase.