New VAT Reduction Decision Published in the Official Gazette! Here are all the details

New VAT Reduction Decision Published in the Official Gazette! Here are all the details
New VAT Reduction Decision Published in the Official Gazette! Here are all the details

Details of the discounts to be applied in the value added tax (VAT), announced by President Recep Tayyip Erdoğan after the Cabinet Meeting, were published in the Official Gazette.

According to the President's Decision on the Amendment of the Decision Regarding the Determination of Value Added Tax Rates to be Applied to Goods and Services, the VAT rate of seeds and saplings certified by the Ministry of Agriculture and Forestry will be reduced to 1 percent.

18 percent VAT will be applied to the deliveries of the vehicles purchased by applying 18 percent VAT rate to the taxpayers engaged in the trade of second-hand motor vehicles, and to the deliveries made by applying a special tax base.

The VAT rate to be applied for up to 6306 square meters of the net area of ​​the residences built within the framework of the transformation projects in the areas designated as reserve building areas and risky areas and in places where there are risky structures within the scope of the Law on the Transformation of Areas Under Disaster Risk No. 150 will be 1 percent.

The VAT rate will be applied as 150 percent for the part of the net area of ​​the houses up to 8 square meters.

The VAT rate on land and land deliveries will also be reduced from 18 percent to 8 percent.

The old provisions will continue to be applied for the residences built within the scope of projects for which a construction permit was obtained or tendered by public institutions and organizations and their affiliates before the effective date of the decision.

8 percent VAT for restaurants

Delivery of devices subject to the "Medical Device Regulation" and "In Vitro Diagnostic Medical Device Regulation" published by the Ministry of Health and their rental services will be included in the scope of the 8 percent VAT rate.

The 18 percent VAT rate applied for places with a first class restaurant license or operating certificate and for restaurants within three star and above hotels, holiday villages and similar facilities will be reduced to 8 percent.

The VAT rate of yachts, boats, boats and cruise ships will be applied as 18 percent.

VAT discount on basic needs

VAT rate in the sale of products such as soap, shampoo, detergent, disinfectants, wet wipes (whether soap, detergent or solution impregnated), toilet paper, paper towels, tissue and napkins, toothbrush and paste, dental floss, baby diapers, sanitary pads will be reduced from 18 percent to 8 percent.

Machinery and devices used in dairy and machinery and devices for separating or cleaning eggs, fruits or other agricultural products according to their weight or size will also be included in the scope of agricultural machinery for which 8 percent VAT is applied.

The decision will come into effect from April 1.

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