Consumption/VAT/Sales Tax in Turkey
- Nature of the Tax
- KDV: Katki Deger Vergisi (= Value added tax)
- Standard Rate
- Standard rate of 18%.
- Reduced Tax Rate
- There are reduced rates of 8% which is applicable to basic foodstuff, pharmaceutical products and other items; and 1% for journals, newspapers, certain farm products. Also, certain supplies are VAT exempt in Turkey.
- Exclusion From Taxation
- There are a few products and services exempted from VAT.
- Method of Calculation, Declaration and Settlement
- The rate of VAT is applied to the selling price. Registration is necessary. VAT is settled through monthly declarations.
- Other Consumption Taxes
- OTV (Özel Tüketim Vergisi = Special consumption tax) concerns petroleum products, vehicles, tobacco, alcohol, sodas and luxury products.
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