The revaluation rate in the Motor Vehicles Tax, which will be valid from the beginning of the year, has been determined as 25 percent. President Recep Tayyip Erdoğan, using his authority, reduced the revaluation rate by 11,2 percent. After this development, the lowest MTV amount for the automobile group increased from 109 TL to 136,25 TL, and the highest MTV amount increased from 50.107 TL to 62.633 TL.
Motor Vehicle Tax (MTV) 2022 Increase Rate 25 Percent
The revaluation rate to be applied in 2022 for the motor vehicle tax (MTV) has been determined as 25 percent. The Presidential Decision on the Determination of the Revaluation Rate to be Applied to the Motor Vehicle Tax Amounts in 2022 was published in the Official Gazette.
According to the decision published with the signature of President Recep Tayyip Erdoğan in today's issue of the Official Gazette, it was decided to reduce the MTV rate from 36,20 to 25 percent. It was stated that the relevant Presidential Decision was made in accordance with Article 197 of the MTV Law No. 10. In the aforementioned decision, “the revaluation rate determined for the year 2021, the tariff numbered (I) in the 18th article of the Motor Vehicles Tax Law dated 1963 February 197 and numbered 5, the tariff numbered (II) and (IV) in the 6th article. It has been determined as 8 percent to be applied to the motor vehicle tax amounts in 2020 for the vehicles included in the tariffs and the tariff numbered (I/A) in the provisional article 25.
Lowest MTV Amount Rises To 136,25 Lira
According to the regulation, the lowest amount of MTV applied for cars in 2021 (cylinder volume below 1300 CC and cars aged 16 and over) increased from 109 lira to 136,25 lira. The highest MTV amount increased from 50 thousand 107 liras to 62 thousand 633 liras.
While the lowest MTV for 1300 cc and below 1-3 year old cars will increase from 1.051 liras to 1.313 liras, the lowest MTV ratio for 1300-1600 year old cars between 1 cc and 3 cc will increase from 1.830 lira to 2 thousand 287,5 liras.
11,2 Percent Discount in Revaluation Rate
With the October inflation data, the revaluation rate to be applied for 2022 was announced as 36,2 percent. The President has the authority to re-determine this rate. Thus, President Erdoğan reduced the revaluation rate by 11,2 percent on MTV. President Erdoğan used his authority to reduce the revaluation rate on MTV again in 2019 and 2020.
It was stated that the provisions of the decision, which will come into effect from the beginning of the year, will be executed by the Minister of Treasury and Finance.