VAT INCREASE IN TÜRKİYE AS OF 10 JULY 2023
The Value Added Tax (VAT, in Turkish, “KDV”) applicable to the goods and services on a general basis will be increased from 18% to 20% and while the 8% VAT applicable to the certain goods and services will be increased to 10% as from 10 July 2023 by the Presidential Decision numbered 7346, published in the Official Gazette on 7 July 2023.
Kindly note that the Decision will come into effect on 10 July 2023. In the light of this, we would like to kindly inform you that the new VAT rates shall be applied to the goods and services as from 10 July 2023.
Our Law Firm remains at your disposal for any further clarifications you may need.
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