- VAT rates in the country have been increased through Presidential Decree No. 7346, which was published in the Official Gazette on July 7, 2023.
- The general VAT rate has been raised from 18% to 20%, while the reduced VAT rate of 8% has been increased to 10%.
- The reduced VAT rate of 1% for basic foodstuffs remains the same.
- The amendment also increased the VAT rate on certain items from 8% to 20%, including soap, shampoo, detergents, disinfectants, wet wipes, toilet paper, paper towels, tissue paper, and napkins.
- The new regulation will take effect on July 10, 2023, and taxpayers must adjust their systems accordingly.
Source Deloitte
