With the approach of July, the SCT hike is also on the agenda. According to the law, the SCT of cigarettes is increased in January and July by the producer inflation (PPI) for the previous 6 months. While cigarette prices are expected to increase by at least 10 lira, how much will the lowest cigarette price be with the SCT hike?
Cigarette prices have been on the agenda with recent increases. Special Consumption Tax (SCT) on cigarettes and alcoholic products is increased by the 6-month producer price index (PPI) in January and July as required by law. In the first 5 months of the year, PPI was 17.87 percent. According to the news of Habertürk, it is almost certain that the increase in cigarette and alcohol prices in the first half of the year will not be below 20 percent. With the 20 percent increase, there will be a minimum lump sum tax of 34.2 liras per pack. There is also a lump sum tax of 4.8 liras per pack as the second tax on cigarettes. This amount will be 5.8 lira with a 20 percent increase.
How much will the lowest cigarette price be?
Thus, in terms of SCT, the retail sale of cigarettes will not be below 60 liras. Currently, this figure is 50 liras and the lowest cigarette price is 56 liras. If the 10 lira tax increase is reflected directly, the cheapest cigarette will be 66 lira. In a 20 percent increase, the cheapest cigarette price will be 60 TL, while a 10 percent decrease can reduce this price to 55 TL.
The President is authorized to determine the implementation periods in days or months, or to decide not to apply the amounts deemed to be redetermined in terms of the goods and months to be determined.
