- A new regulation regarding changes to the Value Added Tax General Application Regulation (Series No: 54) was published.
- The regulation eliminates the cash refund application for transactions subject to the reduced rate within the year.
- The regulation clarifies that income earned from individual courses, training, data processing and development, product promotion, etc. services provided through the internet and similar electronic environments from January 1, 2024, are included in Article 20/B of the Income Tax Law, and therefore, these deliveries and services are exempt from VAT according to Article 17/4-a of the VAT Law.
- The cash refund application for transactions subject to the reduced rate within the year has been eliminated.
- The cash refund application for VAT arising from the delivery of housing subject to the reduced rate and goods within the scope of the 28th, 29th, 31st, and 34th items of the Annex (II) list of the Council of Ministers Decision No. 2007/13033 (listed below) has been eliminated.
- The cash refund application for VAT arising from the delivery of goods within the scope of the “(A) FOOD PRODUCTS” section of the Annex (I) list of the same Decision during the January-June period of the calendar year has been eliminated.
- The refund application for taxpayers’ transactions subject to the reduced rate will continue as a set-off within the year, and as a cash refund or set-off in the following year, as stipulated in the VAT Law.
Source: verginet.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
