Dogus, Ford Otosan slump as tax changes take toll on auto importers

Ford Otomotiv Sanayi AS

31/08/2020 09:14

** Shares in Turkish auto importers Dogus Otomotiv  DOAS.IS 
and Ford Otosan  FROTO.IS  slump 4% and 2.5%, respectively,
after Turkey decided to raise tax on cars but lift lower rate
thresholds
    ** Turkey increased its special consumption tax on mid-range
and expensive cars on Sunday, but also lifted the lower
thresholds at which the duty is imposed, meaning that more
vehicles could be taxed at unchanged lower rates  urn:newsml:reuters.com:*:nL8N2FW062
    ** Is Yatirim said that auto importers will be negatively
affected by changes in the special consumption tax
    ** Shares in Dogus and Ford Otosan are among worst
performers on Turkey's BIST-100 index  .XU100 

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