March 31 mobilization in economy
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.