The Turkish Government published Law No. 7338 Amending Certain Provisions in the Tax Procedure Law and Some Other Laws in the Turkish Official Gazette on 26 October 2021. The Law indicates that taxpayers can choose to include the special consumption tax and non-deductible VAT related to the acquisition or increase in value of economic assets (excluding commodities) to the cost price; or book them as general expenses.
Source: EY
Latest Posts in "Turkey"
- Self-Employed Professionals Exempt from e-Invoice; e-Self-Employment Receipt Satisfies Legal Requirement
- Tax-Free Sales to Non-Residents Qualify as Exports: 5-Point Corporate Tax Reduction Possible
- Taxation of Tips Received via POS and Apps: Wage, Withholding, and VAT Implications
- Turkey: Self-Employed Professionals Exempt from e-Invoice if Issuing e-Self-Employment Receipts
- Turkey Sets 2026 Minimum VAT Refund Threshold at 164,000 TL for Reduced-Rate Goods and Services
