Turkey Extends Temporary Reduced VAT Rates for Certain Goods and Services

Turkey's Revenue Administration has announced the publication of Presidential Decision No. 4062, which provides for an extension of the temporary reduction of VAT rates that was provided for certain goods and services in light of the COVID-19 pandemic. This includes an 8% rate for various goods and services and a 1% rate for entrance fees for cinemas, theatres, operas, etc. Previously scheduled to expire 31 May 2021, the application of the reduced rates is now extended until 31 July 2021.

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