|Update:||Compliance Alert - Changes to the VAT rates|
On 7 July 2023, Decree #7346 of the President of the Republic of Türkiye amending the rates of standard VAT, reduced VAT, and VAT for certain products has been published in the Official Gazette.
The following amendments are made in accordance with the Decree:
- The standard VAT rate is increased from 18% to 20%.
- The reduced VAT rate is increased from 8% to 10%.
- The standard VAT rate of 20% will be applied to the cleaning products (soap, shampoo, detergent, disinfectants, wet wipes, toilet paper, paper towels, tissue paper and napkins).
- As an exception, toothbrushes, pastes and dental floss will be taxable under the reduced VAT rate of 10%.
The amendments to the VAT rates will be in force from 10 July 2023.