# New Excise Tax on Yachts and Boats in Turkey: Impacts, History, and 2025-206 Outlook

# New Excise Tax on Yachts and Boats in Turkey: Impacts, History, and 2025 Outlook

## Introduction

As of 2025, Turkey has officially introduced an **8% Excise Tax (Special Consumption Tax – ÖTV)** on yachts, boats, and leisure vessels. Previously exempt, these assets now fall under the same category as other luxury goods such as automobiles.

This policy shift will have direct consequences for **yacht buyers, marina operators, charter companies, and international investors** evaluating Turkey’s marine tourism market.

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## Regulatory Background: From Zero Tax to 8% Excise Duty

For many years, yacht owners in Turkey enjoyed an unusually favorable tax regime:

* **Excise Tax (ÖTV):** The rate on yacht purchases was effectively **0%** until 2025.
    
* **Motor Vehicle Tax (MTV):** Yachts were subject to annual MTV, but this was **abolished in 2009**.
    
* **Post-2009:** Between 2009 and 2024, yacht ownership was almost tax-free, with both **zero excise** and **no annual MTV**.
    

📌 With the latest amendment, the **Excise Tax has increased from 0% to 8%**, while the **MTV exemption continues** to apply.

| Period | Excise Tax | Motor Vehicle Tax |
| --- | --- | --- |
| Pre-2009 | 0% | Payable annually |
| 2009 – 2024 | 0% | Abolished |
| 2025 onwards | 8% | Still exempt |

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## Scope of the New Excise Regulation

The following categories now fall under the **8% Excise Tax**:

| HS Code | Product Description | Tax Rate |
| --- | --- | --- |
| 8901.10.10.00.11 | Pleasure vessels under 18 Gross Tonnage (designed for sea navigation) | 8% |
| 8901.10.90.00.11 | Passenger and excursion vessels (not designed for sea navigation) | 8% |
| 89.03 | Yachts, cutters, boats, leisure and sports vessels, rowing boats and canoes (except inflatable units under 100 kg) | 8% |

This applies to both **imported vessels** and **domestic transactions** in Turkey.

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## 1\. Impact on Yacht Buyers

* **Higher Acquisition Costs:** For a $1 million yacht, the new Excise Tax adds approximately **$80,000 (≈ TRY 3.3 million)** on top of VAT.
    
* **Delayed Purchases:** Mid-segment yacht buyers may delay or scale down purchases.
    
* **Growth in Secondary Market:** More demand expected in second-hand yacht sales to avoid upfront excise costs.
    

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## 2\. Effects on Tourism and Marina Business

* **Charter Pricing:** Charter companies likely to raise rates by **5–10%**, reducing competitiveness versus Greece or Croatia.
    
* **Marina Occupancy:** Slower yacht inflows may reduce occupancy in Bodrum, Göcek, Marmaris, and Antalya.
    
* **Local Economy:** Reduced yacht traffic affects fuel sales, shipyard services, and crew employment across coastal regions.
    

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## 3\. Financial and Tax Consequences

* **Financing Decisions:** Higher upfront costs make leasing less attractive.
    
* **Government Revenue:** Treasury expects an extra **TRY 2–3 billion annually** from yacht-related excise collections.
    
* **Tax Planning Trends:** Likely increase in **foreign-flag yacht registrations** to avoid Turkish excise tax exposure.
    

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## 4\. International Comparison

* **EU Competition:** Countries like **Croatia and Greece** levy lighter yacht taxes. Turkey’s higher upfront excise may erode its price advantage.
    
* **Investor Decisions:** Some foreign yacht owners may avoid Turkish registration entirely, choosing Malta, Cyprus, or Marshall Islands.
    

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## 5\. Future Outlook

* **Industry Adjustment:** Shipyards may promote smaller yachts under tax thresholds.
    
* **Tourism Policy:** Government could introduce **charter-specific exemptions** to support competitiveness.
    
* **Green Transition:** Potential reduced rates for **electric yachts** as part of Turkey’s climate and sustainability policies.
    

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## Conclusion and Strategic Recommendations

The introduction of an **8% Excise Tax on yachts in Turkey** will:

* Increase acquisition costs,
    
* Put pressure on charter and marina businesses,
    
* Drive some investors toward **foreign-flag or second-hand options**,
    
* Provide the state with **new revenue streams**.
    

📌 Strategic considerations for investors include:

* Tax-efficient ownership structures,
    
* Choice between Turkish vs. foreign flag,
    
* Leasing vs. outright purchase,
    
* Regional tourism positioning.
    

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## Reach Us

📌 If you are considering buying, importing, or chartering a yacht in Turkey, **tax structuring and compliance will be decisive for profitability**.

💼 Contact us at [**info@ozmconsultancy.com**](mailto:info@ozmconsultancy.com) for tailored advisory on:

* Yacht registration and ownership planning,
    
* VAT & Excise Tax minimization strategies,
    
* Charter company compliance and structuring,
    
* Cross-border finance planning for marine investments.
    

🌍 Visit [**ozmconsultancy.com.tr**](https://ozmconsultancy.com.tr/) for more insights.

🔗 Connect with **Evren Özmen, CPA** on [LinkedIn](https://www.linkedin.com/in/evrenozmen)

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