The authority of President Erdoğan to reduce the motor vehicle tax is on the agenda.

According to the "General Communiqué on the Tax Procedure Law" of the Ministry of Treasury and Finance, the revaluation rate for the year 2024 has been announced as 43.93 percent. President Recep Tayyip Erdoğan has the authority to reduce this rate to up to 80 percent for the Motor Vehicle Tax (MTV). If this authority is not used, the MTV will increase by 43.93 percent. If a 50 percent reduction is made, the MTV increase will be approximately 22 percent.

President Erdoğan can exercise his authority until the end of December. Vice President Cevdet Yılmaz stated in an interview with NTV that the evaluation process regarding the MTV reduction, which concerns millions of vehicle owners, is ongoing.

"AN EVALUATION WILL BE MADE"

Regarding the issue, Yılmaz said, "The public has a revenue need, and on the other hand, there is a supportive aspect for the disinflation policy. An evaluation will be made, and a supportive approach to the disinflation process will be exhibited. It would not be right to say anything before the studies are completed," he stated.

In 2023, Erdoğan had reduced the revaluation rate of 122.93 percent for MTV to 61.5 percent. The rate of 58.46 percent for 2024 has remained unchanged.

If there is no change in the revaluation rate, in 2024, the lowest MTV will increase from 347 TL to 499.44 TL, and the highest MTV will rise from 160,285 TL to 230,698 TL.