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2024 Tax Circular

The 2023 Tax Circular is a comprehensive document that includes significant changes and new regulations in tax legislation. Through our circular service, we provide detailed explanations of the updated rules and procedures that taxpayers need to consider when fulfilling their obligations.

Increase in VAT and Some Taxes and Fees Rates Published in the Official Gazette

TAX CIRCULAR: 2023-04 // With the Presidential Decree No. 7346, the general VAT rate which is currently applied at 18% has been increased to 20%, and the VAT rate for goods and services subject to 8% VAT has been raised to 10%. The regulation will come into effect on July 10, 2023. No changes have been made to the 1% rate applied to goods and services listed in Annex (I). The VAT rate for soap, shampoo, detergent, disinfectants, wet wipes (whether or not they are impregnated with soap, detergent, or solution), toilet paper, paper towels, paper tissues, and napkins has been increased from 8% to 20%.

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