- Businesses importing goods into Turkey will no longer be able to deduct import VAT under certain circumstances, according to a new presidential decree.
- The decree states that deductions made under certain trade policy measures are no longer valid, specifically related to import VAT declared due to anti-dumping duty, countervailing duty, protective measures, and surveillance instruments.
- This means that businesses will not be able to deduct VAT paid on the higher value, resulting in a lower amount of deductible VAT.
- Additionally, no VAT can be deducted when paid within the scope of customs duties or other financial protection measures.
Source Innovate Tax
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