VAT (Value Added Tax) is a tax levied on expenditure. One of the most important features of VAT is the existence of the deduction system. The Ministry of Treasury and Finance can hold those involved in VAT taxable transactions responsible for the payment of the tax as part of tax security. With the decision of the 4th Chamber of the Council of State, the condition that the amount subject to withholding tax in VAT refunds must be paid has been suspended. Following the Council of State’s decision, the Treasury has made changes to the regulation. The Treasury aims to start a new period by advancing the date of filing the VAT 2 declaration and setting the payment condition as a prerequisite. The introduction of the payment condition for VAT will impose a new financial burden on the business world. There may be a bottleneck in VAT refund processes, and trade may suffer. The business world is remaining silent on this matter.
Source: alomaliye.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
