Türkiye will temporarily eliminate special consumption taxes on diesel fuel for the rest of August before phasing them back in incrementally through the end of the year, Treasury and Finance Minister Mehmet Şimşek announced on Aug. 13.

The Treasury and Finance Ministry has completed preparations to reduce the special consumption tax on diesel as it seeks to limit the domestic impact of rising global oil prices,…

Türkiye will scrap a special consumption tax (ÖTV) on diesel until the end of this month, according to a presidential decree published in the...