- The Turkish Parliament approved changes to VAT rates on automobiles.
- The special consumption tax rates for internal combustion vehicles have been adjusted to range from 80% to 220%.
- Off-road vehicles will have a special consumption tax rate of 50%.
- The President can set the limits for the special consumption tax base.
- A new law regulates foreign exchange, currency, stocks, bonds, precious metals, and stones.
- Penalties of up to 250,000 TL will be imposed for unauthorized activities.
- VAT exemptions apply to certain vehicles used for national defense and internal security.
- Real estate sales by certain foundations are exempt from VAT.
- The President is authorized to make decisions to protect the Turkish currency’s value.
Source: en.haberler.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.
