The regulation of electric car SCT rates, which has been on the agenda of the parliament for a while, has come to an end. A significant decrease in prices awaits users.
Domestic automobile startup Togg has reached an important level both in the factory and in the vehicle itself in order to get the first models off the band. In the information shared from official sources, we see a level of preparation exceeding 90 percent, especially on the factory side. Along with Togg, another important expectation in the Turkish market is on the tax side. We have not yet seen the incentive processes in Turkey, which we see especially in European countries. Lastly, the fact that the SCT increase of 400 percent was recorded in this area in the past year had an important place in Turkey’s agenda at that time. The tax regulation that automobile brands, apart from users, awaited with Togg, had been on Ankara’s agenda for a while. The information received indicates that the work has come to an end.
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Electric car prices will decrease significantly with the new regulation
The tax rates, which are sliced according to the values produced by the electric motor in kW, can reach up to 60 percent today. Models with an engine power not exceeding 85 kW are in the 10 percent tax bracket, while those between 85 kW and 120 kW are in the 25 percent tax bracket. The tax rates for electric cars exceeding 120 kW were increased from 15 percent to 60 percent last year. With the new regulation, which has been preparing for a while in the parliament and is expected to be announced in the coming days, we can see a decrease in tax rates from 60 percent to 10 percent, although it varies according to the tax bases. In the regulation, which will bring very serious price reductions especially in models such as Hyundai Kona Elektrik and Renault Zoe, the limit of 160 kW in engine power and 700 thousand TL for the price excluding taxes comes to the fore. In models that exceed these limits, the 60 percent tax level is expected to decrease to 40 percent. Although it is not clear when the law will enter into force for now, we are not far from seeing the official details of this incentive step.