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TURKEY

Turkey increases tax on tobacco by 47.4%

05 Jan 2022. Turkey, which has recorded the highest annual inflation rate since 2002, has increased taxes on alcohol, cigarettes and other tobacco products, reports Bianet.

The Special Consumption Tax (ÍTV) levied on alcoholic beverages and tobacco products has been increased by 47.4 per cent. That being the case, the amount of tax to be paid for a pack of cigarettes has been increased from TRY 9.76 to 14.39 (USD 0.73 to 1.08).

The increases were only the latest hikes in prices and taxes that Turkish consumers faced in the first days of 2022. The Turkish government also increased the prices of petrol, bridge and motorway tolls, car insurance and other goods and services, reports BalkanInsight.