Turkey’s government increased the special consumption tax thresholds for mobile phones in order to facilitate the cost reduction of cheaper devices after a price hike. It was published in the Official Gazette.
Revised special consumption tax rate base:
Cost of Mobile phone | Tax Rate |
TRY 1,500 or less | 25% |
TRY 1,500 to TRY 3,000 | 40% |
Others | 50% |
Turkish consumers are seeing their purchasing power trumped by massive inflation. According to Statista, inflation increased to 61.1% on an annual basis in March, the highest rate of increase in two decades. Imported items such as phones have also risen in price after the Turkish lira’s 44% decline against the dollar last year.
Source: resmigazete.gov.tr