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The revaluation rate has been determined, which determines the rate of increase in taxes and penalties.
According to the notification published by the Ministry of Finance and Finance in the Official Gazette, the revaluation rate was determined at 9.11 percent in 2021.
Consequently, motor vehicle taxes, traffic fines and tax penalties will increase at this rate in 2021.
The following statements were included in the notification published in the Official Gazette:
“As you know, 213 on the Tax Procedure Law of article 298 (B) repetitive according to the revaluation paragraph of the revaluation rate in October of the year will be carried out (including October) compared to the same period of the previous year occurred in the Turkish Statistical Institute the National Producer Price Index is the average rate of price increase and this rate must be announced in the Official Gazette by the Ministry of Finance and Finance.
In accordance with this provision, the revaluation rate was determined at 9.11 percent (nine point eleven) for 2020.
This rate will also apply for the last anticipated fiscal period of 2020. “
