Tofas: Shines after tax changes favor local manufacturers

Tofas Turk Otomobil Fabrikasi

31/08/2020 08:48

** Shares in Turkish auto manufacturer Tofas  TOASO.IS  are
up 2.4% after Turkey raised tax on cars and at the same time
lifted lower rate thresholds on Sunday
    ** Turkey increased its special consumption tax on mid-range
and expensive cars, 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 analyst Esra Suner said lifting the lower
thresholds supports local manufacturers and will have positive
impact on Tofas shares
    ** Tofas stock is the second best performer on Turkish BIST
100 index  .XU100 

 ((canan.sevgili@tr.com
halilcan.soran@tr.com))