Older cars soon to be subject to further taxation

Accordingly, the Motor Vehicle Taxes scale in Turkey will soon be completely restructured. Fuel efficient and low emission vehicles will from here on out be provided tax incentives, whereas the taxes issued on older vehicles will be increased. Furthermore, the state will no longer operate vehicles over ten years of age.
The state initiated Energy Efficiency Strategy Document regulations are reaching their final stage of development. According to information acquired by SABAH, buildings with heat insulation will be subject to incentives, while those without will be levied extra taxes.
With up to 300 billion dollars worth of investments anticipated by the year 2023, Turkey is preparing for a future in energy efficiency. A Strategy Document to increase energy efficiency is being prepared with the collaboration of the Ministry of Energy, the Ministry of Forestry and the Environment, the State Planning Undersecretariat and Metropolitan Municipalities to name a few.
According to information acquired by SABAH, the document contains some radical changes and measures in regards to energy usage…

* TAXES ON BUILDINGS THAT DO NOT HAVE HEAT INSULATION: As of 2015, buildings that do not have the appropriate heat insulation will be charged an 'emission tax' adjusted according to location and climate.

* TAX AND CREDIT INCENTIVES FOR INSULATION: Buildings already in use or those that have received licenses prior to the Strategic Document going into effect, will be granted VAT assistance on the purchasing of heat insulation materials. In addition, these buildings will not be charged banking procedure taxes.

* SENIOR VEHICLES HEADED FOR THE GARAGE: Public vehicles that have fulfilled over ten years of service will increasingly be taken out of circulation.

* 500,000 TL SUPPORT: Projects geared towards increasing efficiency will be allotted up to 500,000 TL in support. If the scope of the project surpasses 2.5 million lira, then corporate taxes will not be issued.