NEW fees, fines and taxes have been announced in Turkey, with the advent of the 2015.

Here is a quick guide to some of the hikes that expats may well be coming across shortly.

The new minimum monthly wage has been set at 949 Turkish Liras for the first six months of 2015 and 1,000 TL for the latter second half of the year. The minimum wage rose 5 percent to 846 TL compared to 2014.

However, residents will have to pay at least an extra 10 percent on fines and fees in 2015, such as speeding fines, according to the Finance Ministry.

The Official Gazette revealed that motor vehicle taxes for passenger cars with engines between 1,300-1,600 cc will increase from 859TL to 946TL.

Fines for drivers who go 30 percent or less over the speed limit will be 189TL. Drivers exceeding the limit by over 30 percent will pay 392TL.

Fines for running a red light will rise from 189 TL, and the penalty for drunk drivers will be 800TL for first-time offenders and 1,003TL for second-time offenders.

Meanwhile, the government has also heralded increases on tobacco and alcohol.

The tax rate on tobacco products was kept at 64.25 percent, with a minimum fixed tax rate increasing by 5 percent to 0.19 TL. 

The fixed tax rate for beer, which was 0.74TL per litre, has been increased by 15 percent to 0.85TL. The fixed tax rate for wine has increased by 16 percent to 4.59TL, and for sparkling wine to 31.02TL.

Rates for residence permits presently remain on hold as does the cost of a travel visa to Turkey.

Also on a brighter note, the Turkish Central Bank has kept interest rates on hold, enabling banks quietly to lift savings rates above 10 per cent in some circumstances – a minor boost for expats’ savings.

This week, it was announced that inflation in Turkey hiked up to 8.17 percent in 2014, slightly higher than 2013. So while expats may make more money in their savings, the weekly shopping bill is about to get a little bit more expensive.