March 31 mobilizati­on in economy

Dünya Executive - - COMMENTARY -

The March 31 elections have meaning beyond their electoral relevance. This is why the ruling party is taking a series of measures and extending the duration of measures to try to attract voters. On March 31, local administra­tors will be elected, but it is also a fact that voters have taken into account the economic situation. The candidate will be looked at, which party the candidate is from will also be looked at, and this time, wallets will also play a role. That is why a 31 March mobilizati­on has been launched in the economy.

If the SCT and VAT advantage that was supposed to last until end of 2018 in automotive, white goods and furniture had been pulled back to normal levels on January 1, we would have seen a record price increase in January. Therefore, the duration of the advantage was extended, as expected, for three months. It is obvious that this time the extension was done for the election. The ability to pay for certificat­ion of renovation­s after they have been completed is another example – that was also extended for six months.

Discount on electricit­y and gas

According to a recent announceme­nt by President Recep Tayyip Erdogan, electricit­y used in homes was reduced by 10 percent as of January 1. The price of natural gas used in houses, small and medium-sized enterprise­s and commercial establishm­ents was reduced by 10 percent starting at the same date.

Motor Vehicle Tax reduced

The motor vehicles tax in 2019 will increase less than the 23.73 percent revaluatio­n rate. With the presidenti­al decision, the discount authorizat­ion was used and it was decided that the increase will be 15.9 percent, in line with 2019 CPI inflation forecast.

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