Jun 30 2018

Turks confused by cigarette tax changes

Of three taxes levied on the sale of cigarettes in Turkey, two went up and one went down on Saturday, sending Turkish addicts rushing to their calculators to figure out the impact on their pockets.

“This change is one of the concrete steps in our approach towards giving strong support to our monetary policy,” Finance Minister Naci Ağbal said.

“While the weight of the Proportional Tax has been lifted, the Fixed Tax and Minimum Fixed Tax have been made heavier.”

The change, Ağbal said, would limit inflationary pressures and prevent prices from being multiplied too far by taxes.

According to the calculations of tax expert Ozan Bingöl, the net result will be an increase of between 60 kuruş and 1 lira on cigarettes priced less than 11 lira ($2.40) a packet.

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