- The decision regarding changes in the Value Added Tax Rates to be applied to Goods and Services has been published in the Official Gazette on November 14, 2024.
- The decision sets the VAT rate for special medical purpose foods licensed by the Ministry of Health or allowed for import at 10%.
- The VAT rate of 10% will also apply to active substances in human medicinal products and raw materials used in the production of active substances if they are listed in the relevant regulation.
- The decision also specifies that a general VAT rate of 20% will apply to certain goods subject to excise tax and goods listed in the Turkish Customs Tariff Schedule under position 85.17.
- Changes have been made to the list of goods subject to VAT in accordance with the decision.
- The decision will come into effect the day after its publication and will be implemented by the Minister of Treasury and Finance.
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.
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