Research Article


DOI :10.26650/mcd2022-1163592   IUP :10.26650/mcd2022-1163592    Full Text (PDF)

Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues

Memduh Aslan

In terms of legal security and financial stability, financial burdens must be accountable and predictable. However, policy implementations that can rapidly increase public revenue in extraordinary times are only possible through indirect taxes. In order to make quick fiscal policy decisions in Turkey, the President is given the authority to determine the upper and lower limits, mostly with regard to indirect taxes. Short taxation periods can have a rapid impact on tax revenues from policy changes regarding indirect taxes. Cyclical and political conditions are not preferred that permit an increase of the indirect tax burden on basic consumer goods. With regard to the automotive sector, however, automobiles are mainly supplied to the market as imports and are mostly considered to be luxury consumption products. Because of this, increasing the special consumption tax (SCT) on these products is not considered problematic in terms of tax justice. However, SCT increases also increase the cost of automobile ownership. This is not directly affected by an SCT increase but by the increase in the demand for second-hand vehicles, which also causes their prices to rise. The high SCT applied in the automotive sector shows how the effects of capitalization and taxes can be reflected through prices. This situation has led to a continuous increase in automobile prices that has turned them into an investment tool and into a negative externality by causing a decrease in the capital that can be directed from savings toward production. This study discusses how to use the depreciation effect of tax without reducing tax revenues in order to direct savings toward productive investment areas and to reduce car prices.

DOI :10.26650/mcd2022-1163592   IUP :10.26650/mcd2022-1163592    Full Text (PDF)

Otomobil Fiyatlarının Düşürülmesinde Vergi Geliri Azaltılmadan Tercih Edilebilecek Vergilendirme Yöntemleri

Memduh Aslan

Hukuki güvenlik ve mali istikrar bakımından mali yüklerin hesap edilebilir ve öngörülebilir olması gerekir. Ancak, olağanüstü dönemlerde kamu gelirini hızlı bir şekilde artırabilecek politika uygulamaları ancak dolaylı vergilerle mümkün olmaktadır. Hızlı maliye politikası kararları alabilmesi için cumhurbaşkanına alt ve üst sınırı belirleme yetkisi çoğunlukla dolaylı vergilerde verilmektedir. Vergilendirme dönemlerinin kısa olması dolaylı vergilerde politika değişikliğinde vergi geliri üzerinde hızlı etki sağlayabilmektedir. Konjonktürel ve siyasi koşullar temel tüketim malları üzerindeki dolaylı vergi yükünü artırma olanağını tercih edilebilir bırakmamıştır. Diğer taraftan ağırlıklı olarak ithalata dayalı otomotiv sektöründe piyasaya arz edilen özellikle otomobillerin çoğunlukla lüks tüketim ürünü olarak kabul edilmesi, bu ürünler üzerinde özel tüketim vergisinin artırılması, vergi adaleti bakımından sorunlu görülmemektedir. Ancak, özel tüketim vergisinde yapılan artışlar otomotiv sahipliği maliyetini yükseltmiştir. Bu da özel tüketim vergisi artışından etkilenmemiş olmasına karşın ikinci el araçlara talebi artırarak bu segmentte de fiyatların yükselmesine sebep olmuştur. Otomotivde uygulanan yüksek ÖTV kapitalizasyon etkisi göstererek fiyatlarla yansıtılabilir hale gelmiştir. Bu durum otomobil fiyatlarının sürekli olarak yükselmesine sebep olmuş ve otomobili yatırım aracı haline getirmiş, tasarruflardan üretime yönlenebilecek sermayenin azalmasına neden olarak olumsuz dışsallık ortaya çıkarmıştır. Çalışmamızda vergi geliri azaltılmadan verginin amortisman etkisi ile tasarrufların verimli yatırım alanlarına yönlenmesi ve otomobil fiyatlarının nasıl düşürülebileceği tartışılmıştır.


EXTENDED ABSTRACT


With regard to the special consumption tax (SCT) applied to automobiles, the value of the automobile and the engine cylinder volume are used as taxation measures. The motor vehicle tax also uses the same measures, in addition to vehicle age. Due to the decrease in collected taxes, a law was enacted in Turkey in 2019 that authorized the government to borrow an additional 75 billion Turkish Lira to meet public expenditures. The same law also introduced an expense restriction to the income tax law regarding the evaluation and depreciation automobiles with regard to all SCTs and value-added taxes. While the value of used cars is expected to decrease as they get older, their worth has actually increased due to new application since the beginning of 2020. Automobile values increased more, even ignoring the increase in exchange rates. The fluctuation in foreign exchange in the last months of 2021 had an accelerating effect on vehicle value increases. The quarantines imposed due to COVID-19, with the restrictions on the use of public transport leading people to acquire personal vehicles and thus increasing the demand. In 2020, motor vehicle imports increased by 52.7% compared to the previous year, with new vehicle sales also increasing by 55% in the same year. Due to the motor vehicle tax and SCT applications, people have turned to cars with an engine cylinder volume under 1,600 cm3 in order to pay a lower tax rate. Of the registered vehicle stock in Turkey, 92.64% consist of vehicles with low cylinder volume size. In 2020, used car ownership changed 10 times more often compared to new cars, while 2021 saw a 7% decrease in used car sales. When analyzing the data for the first six months of 2022, a decreasing trend is seen for new vehicle sales. This situation reveals the onetime SCT revenues regarding an automobile’s initial registration to also decrease.

Due to automobiles being durable consumer goods and used vehicles being in demand, the taxes (SCT) that cause a higher price regarding initial registration are reflected onto the next owner through the exchange mechanism. Because automobile depreciation values do not decrease due to restrictions on the expenses of automobiles purchased for commercial purposes, vehicles started being supplied to the second-hand market at higher prices. As a result of the increase in the SCT and restrictions on expenditures, new vehicle purchases have lost their attractiveness to businesses. This situation has increased the demand for second-hand vehicles and thus caused their prices to rise. The real appreciation trend of vehicles in the second-hand market and the upward movement in exchange rates have made automobiles an investment tool, and this in turn has led to an increase in demand for new automobiles. Car ownership is becoming more and more difficult for people with average incomes. Tax applications have reached the unavoidable point of causing capitalization with regard to used cars.

The main purpose of the special consumption tax in Turkey is to increase public revenues. Compared to European countries, Turkey is different in that carbon emissions are not used as a criterion for taxation. The applied tax rates can reach astronomical rates when compared to peer countries. In addition, the value-added tax as a result of to tax practices has also been calculated with regard to the special consumption tax, thus increasing the tax burden. Due to the reflected price increase, a low-rate SCT has become inapplicable. In addition to the fact that vehicle prices result in social injustice, the facts that savings are directed to used cars, which do not contribute to value-added production, and that businesses have to allocate more resources to the cars they need have also increased the need for working capital and resulted in macroeconomic losses. Because the purpose of the SCT is to increase public revenues, raising the same tax by increasing the motor vehicle tax, which is applied using similar measures while lacking any corresponding capitalization effect, will stop the astronomical rise in automobile prices and bring them to a reasonable level. When considering 2021 data, the average annual increase of 2,571 TL per motor vehicle will cause a 40%-66% decrease in vehicles’ market value. If the useful life of motor vehicles is assumed to be 25 years, the amount to be paid in 50 installments corresponds to around 20% of the lowest new automobile price. Although no change will be seen in terms of tax revenues, transferring the tax burden from an indirect tax to a wealth tax will ensure tax justice and terminate the practice that causes income distribution inequality. 


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APA

Aslan, M. (2022). Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues. Journal of Public Finance Studies, 0(68), 1-31. https://doi.org/10.26650/mcd2022-1163592


AMA

Aslan M. Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues. Journal of Public Finance Studies. 2022;0(68):1-31. https://doi.org/10.26650/mcd2022-1163592


ABNT

Aslan, M. Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues. Journal of Public Finance Studies, [Publisher Location], v. 0, n. 68, p. 1-31, 2022.


Chicago: Author-Date Style

Aslan, Memduh,. 2022. “Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues.” Journal of Public Finance Studies 0, no. 68: 1-31. https://doi.org/10.26650/mcd2022-1163592


Chicago: Humanities Style

Aslan, Memduh,. Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues.” Journal of Public Finance Studies 0, no. 68 (Dec. 2022): 1-31. https://doi.org/10.26650/mcd2022-1163592


Harvard: Australian Style

Aslan, M 2022, 'Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues', Journal of Public Finance Studies, vol. 0, no. 68, pp. 1-31, viewed 4 Dec. 2022, https://doi.org/10.26650/mcd2022-1163592


Harvard: Author-Date Style

Aslan, M. (2022) ‘Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues’, Journal of Public Finance Studies, 0(68), pp. 1-31. https://doi.org/10.26650/mcd2022-1163592 (4 Dec. 2022).


MLA

Aslan, Memduh,. Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues.” Journal of Public Finance Studies, vol. 0, no. 68, 2022, pp. 1-31. [Database Container], https://doi.org/10.26650/mcd2022-1163592


Vancouver

Aslan M. Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues. Journal of Public Finance Studies [Internet]. 4 Dec. 2022 [cited 4 Dec. 2022];0(68):1-31. Available from: https://doi.org/10.26650/mcd2022-1163592 doi: 10.26650/mcd2022-1163592


ISNAD

Aslan, Memduh. Preferred Taxation Methods for Reducing Automobile Prices Without Decreasing Tax Revenues”. Journal of Public Finance Studies 0/68 (Dec. 2022): 1-31. https://doi.org/10.26650/mcd2022-1163592



TIMELINE


Submitted17.08.2022
Accepted28.09.2022
Published Online07.10.2022

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