- On 16 October 2023, a Presidential Decree that increases additional customs duty rates imposed on textile industry was promulgated in the Official Gazette of Türkiye. The increases are set to be applied as of 15 November 2023.
- The amendment covers both raw materials and final products in textile goods, and it is estimated that the tax burden due to this amendment will range from 30% to 166.7%.
- Not all products classified as textile goods are covered by the amendment; therefore, it will be useful for those importing goods into Türkiye of goods classified in Chapters 51 to 63 of Harmonized System (HS) Code to check the additional customs duty rate changes on that basis.
Source EY
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