The tax base needs to be updated in the Special Consumption Tax

The tax base needs to be updated in the Special Consumption Tax
Date: 18.10.2022 10:59

A press conference was held in Istanbul by the Automotive Industry Association (OSD) regarding the automotive production and export figures for the January-September period.

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Automotive Industry Association (OSD) President Cengiz Eroldu, in his speech at the meeting, stated that a challenging global agenda has been passed, and that there has been a quarter with many problems that have had an impact on a global level both in Europe and in many parts of the world, and it will continue to be experienced. Eroldu said that although there are no risks similar to Europe in terms of energy in Turkey, risks in Europe may affect the industry, and that a risky period may occur especially in facilities that use very high energy such as steel and aluminum, and this also worries the industrialists for the coming months. 
 

AUTOMOTIVE MARKET IS 5 PERCENT LOWER THAN THE LAST YEAR 

 
Cengiz Eroldu continued his words as follows: “The automotive market is 5,6 percent lower than last year. This shows that the availability problem still persists in the Turkish market. Otherwise, the demand in Turkey is actually not lower than last year, but from time to time availability problems are still experienced by both domestic manufacturers and importers based on brands and we are of the opinion that it keeps the market a little lower along with other factors. Of course, the difficulties in financing, in particular, draw attention as an important issue in the weakness of the Turkish market,” he said. 
 

“THERE IS A NEED TO UPDATE THE TAX BASE ON SCT” 

 
Expressing that there is a need to update the tax base on the subject of Special Consumption Tax (CST), Eroldu said, “But I do not expect such a change to happen, but of course, these rumors and conversations are damaging the domestic market somewhere. Because, taking these into account, some customers may have postponement decisions. Now, of course, in the face of this risk of shrinking demand in export markets, it is extremely important for us to support the domestic market with the above items in terms of protecting the automotive industry, the employment created by the automotive industry, the exports created by the automotive industry, and protecting the added value.”
 

YEREL HABERLER

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