Fiscal subject related
General information
Content
According to Presidential Decree No. 7346 published on July 7, 2023, the general VAT rate in Turkey has increased from 18% to 20% and the reduced VAT rate from 8% to 10%. The applicable VAT rate on cleaning products (excluding toothbrushes, pastes, and dental floss) has also been increased from 8% to 20%. The reduced VAT rate of 1% remains unchanged.
These new rates are effective July 10, 2023, and will apply to all goods and services subject to VAT in Turkey, except for those that are exempt or zero-rated.
The government expects to generate additional revenue of 50 billion Turkish lire ($5.8 billion) from the VAT increase, which will be used to finance public spending and reduce the budget deficit.
Other news from Turkey
New document was uploaded: Digital Product Passport
Do you even know what DPP is? Digital Product Passports (DPP) are set to play a crucial role in the European Union’s commitment to a circular economy. The purpose of this document is to provide you with a necessary overview of the upcoming Digital Product Passport requirements set to be implemented by the European Union. Read more
New document was uploaded: Recorded webinar: It’s time to grow together
In this discussion, we have introduced our new partner program and what is essential for international growth, while dealing with topics such as - Success factors for POS applications - What does globalization mean? - How to grow globally? Furthermore, we presented benefits for our partners. Last but not least, we presented our fiscal cloud architecture and its important features.You can down... Read more
Change in usage of some XML elements for e-archives in Turkey
These changes refer to the usage of XML elements for electrical charging stations. Let's find out more about it. Read more
The use of QR codes in the e-invoicing system in Turkey
Turkey is not just at the forefront of the e-invoicing reform but is also one of the first countries to introduce mandatory QR codes on invoices. Other countries have also adopted QR codes as elements of invoices, such as Spain or Portugal, and it seems that QR codes will become more and more applied to e-invoicing schemes. A QR code, short for 'Quick Response Code,' is a type of barcode that cons... Read more
A new technical guide on e-Archive was released in Turkey.
On January 3, 2024, the Turkish Tax Administration published the new version of e-Archive Technical Guidelines V1.16. You can discover additional information on this subject in the following The text of the new version of the Technical Guide is available in English on our Fiscal Portal: e-archive Guide 1.16 Read more
New document was uploaded: Legal Q&A – Turkey
Q&A is a crucial document containing answers to common questions when it comes to fiscalization. Its content spares you the precious time you would invest in researching this specific field. This document, prepared by our experienced fiscal experts, unveils answers to questions such as: What is the type of fiscalization in the country? When did it start, and what was the timeline? What does the history of changes look like? What is the law? Which are the other regulations? Where does fiscal law need to be implemented? These examples concern only some general questions, but there are also chapters describing journals, communication with authorities, taxes, VAT, etc., and therefore questions and answers concerning these topics. Read more
E-Invoicing in Turkey: What you need to know
Turkey has been actively steering its business landscape toward a comprehensive e-invoicing system since 2012. This digital transition, initially applied to alcohol, tobacco, and oil companies, has evolved to encompass a wider range of businesses and transactions. A key feature of Turkey's e-invoicing initiative is the gradual reduction of the issuance threshold, a strategy pegged to company turno... Read more