Turkey was revealed as the six largest taxer of alcohol among members of the Organization for Economic Co-operation and Development (OECD).
The Turkish Petroleum Refineries Corporation (TÜPRAŞ) ranked as Turkey's largest industrial business with 87.9 billion liras in annual production revenue. The oil company was followed mostly by automotive producers.
Democracy and Progress Party (DEVA) leader Ali Babacan has criticized heavy taxes on alcoholic beverages, saying that it leads to smuggling. They are being sold to one third of the prices here in our neighboring countries. The fact that the taxes are high leads to smuggling," Babacan said when asked about increases in private consumption tax (ÖTV).
Turkey will be lifting a 20-percent customs tax on melt blown fabrics used for mask production. An executive order also removed customs taxes on 125 other intermediate products that aren't produced domestically.
Turkey's President Recep Tayyip Erdoğan said that the government would be implementing new tobacco taxes, because they love smokers and they want to discourage their habit. The president is a life-long campaigner against tobacco, even known to have confiscated cigarettes from people.
Turkey's Trade Ministry announced a price ceiling of one Turkish Lira for surgical masks for when sale of the commodity begins after monthlong government efforts to distribute it for free. The price ceiling will be in effect starting May 8, when the goods will be on sale in Istanbul.
At a time when Turkey, just like the rest of the world, is under grave threat from a new, unknown virus, and the state has to indirectly admit that it could soon be unable to pay for the basic needs, it is becoming obvious how costly President Erdoğan's populist megalomania projects are.
Turkey's most recent increase of its special consumption tax on gas and diesel fuel will bring an estimated five billion Turkish Liras of annual income. With a 0,18 TL/litre increase on the tax, it is now 2,52 TL/litre for gas and 2,05 TL/litre for diesel fuel.