ANKARA, Dec 25 (Reuters) – Turkey lowered the special consumption tax on cigarettes and tobacco products to 63%, the Official Gazette showed on Friday, a move that could help ease some upwards pressure on inflation.
The special consumption tax was previously 67%. The fixed tax amount will remain unchanged from levels announced in July for the first six months of 2021, the Offical Gazette showed.
The alcoholic beverages and tobacco component makes up 6.06% of the inflation basket. Cigarettes make up a large part of that component. (Reporting by Can Sezer; Writing by Ali Kucukgocmen; Editing by Raju Gopalakrishnan)