- A Presidential Decree in Turkey has removed the right to deduct import VAT due to certain trade policy measures.
- Importers will no longer be able to deduct VAT calculated on their import transactions for anti-dumping duty, countervailing duty, protective measures, and surveillance instruments.
- This means that the amount of VAT deductible for imported products subject to these trade policy measures will be lower.
- The new Presidential Decree abolishes the right to deduct VAT paid on the increased value declared in customs declarations for goods subject to surveillance in imports.
- VAT will also not be deductible for customs duties, additional financial obligations, anti-dumping duties, countervailing duties, and various taxes, duties, fees, and shares included in the VAT base.
Source: globaltaxnews.ey.com
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.
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