Azerbaijan, Baku, Dec. 17 / Trend A.Akhundov /
A special consumption tax (OTV) on petroleum products made up the major part of the tax revenues of the Turkish state budget during 2010, continuing the nine year-old trend.
Since 2002, OTV fees have amounted to 186.171 billion lira, the Anadolu news agency reported referring the Turkish Finance Ministry.
OTV was introduced in August 2002 by the abolition of 16 different indirect taxes and duties in accordance with European Union directives. Unlike the VAT, OTV is charged once.
In 2002, the state budget received 11.238 billion lira due to the revenues on petroleum products, 15.098 billion lira in 2003, 15.7 billion lira in 2004, 19.552 billion lira in 2005, 20.7 billion lira in 2006, 22.23 billion lira in 2007, 23.94 billion lira in 2008, 25.58 billion lira in 2009 and 30.69 billion since early 2010. The figure is expected to hit 32.58 billion lira by the end of 2010 and 34.62 billion lira in 2011.
More than half of the OTV income fell to OTV on petroleum products. In 2005-2010, income from OTV on petroleum products amounted to 57.05 percent of total OTV income. This figure is expected to hit 56.45 percent by late 2010.
Out of the total revenues generated in Turkey, the share of revenue from OTV on petroleum products is around 12.96 - 14.82 percent.