Taxes in Turkey will be reduced until May 2021

Taxes in Turkey will be reduced until May 2021

Turkish President Recep Tayyip Erdogan has signed a decree extending the program of reduced taxes on some services for another 5 months. The Ministry of Finance will use this method to reduce rising inflation, strengthen the national currency, and stimulate the domestic market. List of services that are subject to a reduction in value-added taxes (KDV):

  •  VAT on the rental of premises for business is 8 % instead of 18 %
  •  VAT on hotel and accommodation services reduced from 8 % to 1 %
  •  VAT on catering services (excluding bars) is 1 % instead of 8 %
  •  VAT on maintenance and repair services are 8 % instead of 18 %
  •  In the field of passenger transport, VAT will be applied at the rate of 8 % instead of 18 %
  •  The 10% entertainment tax on movie tickets has been reduced to 0 %
  • Share