FUEL EXCISE AND VAT SHOULD BE REDUCED

ETO President Metin Güler called for a temporary reduction in taxes such as Excise Duty (ÖTV) and Value-Added Tax (KDV) on fuel, noting that the ongoing war between Russia and Ukraine has driven fuel prices up significantly, impacting production, business, and transportation costs in Turkey.

In his statement, Güler highlighted that fuel prices are rising globally due to external factors, but the high exchange rate and additional taxes have intensified the effects of these increases in Turkey. He explained that the rising fuel prices are increasing production costs, especially in sectors like agriculture, and doubling transportation expenses, affecting the operating costs of businesses across trade and industry.

Concerns Over Further Increases in Fuel Prices

Güler noted that rising costs are being passed on to consumers, thereby contributing to inflation. He emphasized that lowering fuel prices would also help reduce inflation. To alleviate these pressures, Güler suggested a temporary reduction in taxes like ÖTV and KDV on fuel used in commercial activities, particularly for the transportation of food products. He expressed concerns that the conflict in Russia and Ukraine is driving up energy and fuel costs and fears further increases in fuel prices. Güler urged the government to reduce fuel taxes until prices stabilize in international markets.