Alcohol prices set to increase
Özgür Aybaş, President of the Turkish Alcohol Vendors Platform, announced that alcohol prices will increase by 17% to 25%.
According to the Special Consumption Tax Law, the specific and minimum specific tax amounts on alcohol and cigarettes are determined based on the change in the Producer Price Index (PPI) over the past six months, as announced by the Turkish Statistical Institute (TÜİK).
Unless President Erdoğan decides otherwise, the special consumption tax (ÖTV) on fuel, alcohol, and tobacco products will automatically increase on July 3.
For this increase not to occur, President Tayyip Erdoğan must make a decision, which then needs to be published in the Official Gazette.
Özgür Aybaş, head of the Turkish Alcohol Vendors Platform, stated that many companies would not supply products between July 1 and 3 due to the expected price hike.
In his social media statement, Aybaş said, "Many alcohol companies will not be distributing products between July 1 and 3. The upcoming price increase will be between 17% and 25%, for your information."
