Turkey to Hike Tax on Electronics

July 3, 2015 Taxation in Turkey

ISTANBUL – Computers, mobiles and tablets in Turkey will soon become more expensive, as the government turns to taxes to help align the current account deficit.

During a press conference on July 6th the Finance Minister of Turkey indicated that within two months’ time the national government will hike the rate of tax applied to the import electronic goods into the country.

The Minister explained that the import of high-end electronics, such as tablets, telephones, and personal computers, is a significant contributor to the country’s current account deficit.

The new tax measure is intended to help realign the deficit, and is expected to work hand-in-hand with the government’s recent launch of a new program aimed at encouraging greater levels of exports of electronics from Turkey.

Representatives of retailers of electronics in Turkey have already indicated that if the new taxes become a reality, consumers in the country will end up bearing the brunt of the new price hikes.

The Minister also added that in addition to the new taxes on electronics, the government was mulling hiking the taxes on the import of chemical goods.

Photo By: Johan Larsson