Motor Vehicles Tax Revaluation Rate Set at 43.93% in Latest Economic Update
The Motor Vehicles Tax (MTV) revaluation rate has increased by 43.93 percent according to a recent Presidential decision published in the duplicate issue of the Official Gazette.
As a result of this increase, the lowest MTV for a new vehicle has now risen from 3 thousand 359 lira to 4 thousand 834 lira. This significant jump in the MTV rates means that vehicle owners will have to pay higher amounts to comply with the new regulations.
The amounts to be paid for MTV will vary depending on the vehicle type and model. It is important for all vehicle owners to be aware of these changes and make sure they are up-to-date with their tax obligations.
The increase in MTV rates reflects the government’s efforts to generate additional revenue and ensure compliance with tax regulations. Vehicle owners should be proactive in understanding these changes and ensuring they meet their tax obligations to avoid any penalties or fines.
