06January2020

Changes in Value Added Tax ("VAT") Rates

With the Presidential Decision dated 02.01.2020 and numbered 1994, as of 02.01.2020, it was decided to make changes in the VAT rates of certain products.

Within the scope of the regulations, amendments are as below;

The VAT rate, which is applied as 8% for wholesale deliveries of chicken eggs, has been reduced to 1%.
The VAT rate, which is applied as 8% for fish deliveries, has been reduced to 1% for deliveries to wholesalers and wholesale fisheries and real value-added taxpayers.
For deliveries of furniture products determined by GTIP numbers; VAT rate has been reduced to 8%, from 18%.

Relevant circular can be accessed from here.

Author Selma Kıy, Category Taxation Law

Notification!

Contents provided in this article serve to informative purpose only. The article is confidential and property of CottGroup^® and all of its affiliated legal entities. Quoting any of the contents without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance put in the preparation of this article, CottGroup^® and its member companies cannot be held liable of the application or interpretation of the information provided. It is strictly advised to consult a professional for the application of the above-mentioned subject.

For each concrete situation, it is strongly advised to seek guidance from a professional advisor. If you are a customer of ours, please consult with your customer representative before taking any action related to the announcement. If you are not a customer, seek advice from an expert.