Turkey has amended VAT rates with Decision Number 9126, effective mid-November 2024, aligning with VAT Law No. 3065. A 10% VAT rate now applies to licensed medical foods, human medicinal products, and related active ingredients, while a 20% VAT rate covers goods under special consumption tax and specific items in the Customs Tariff Schedule. These changes aim to support public health initiatives and streamline tax classifications, taking effect immediately upon publication in the Official Gazette.
Turkey Implements New VAT Rates for Medical Products and Special Consumption Goods
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Turkey
Author: Ivana Picajkić
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Fiscal subject related
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9675
Content accuracy validation date:
20.11.2024
Content accuracy validation time:
08:47h
In the middle of November 2024, the Turkish government issued Decision Number 9126, amending the Value Added Tax (VAT) rates applicable to various goods and services. This decision is part of ongoing efforts to regulate VAT in accordance with the Value Added Tax Law No. 3065.
The main points of the Decision are as following:
- VAT Rate for Medical Products: The VAT rate for special medical foods that are licensed or approved for import by the Ministry of Health has been set at 10%. This rate also applies to human medicinal products, active ingredients used in these products, and raw materials for producing active ingredients if they are included in a specific government list.
- General VAT Rate Adjustments: The decision specifies that a general VAT rate of 20% will apply to the import and delivery of goods subject to special consumption tax and certain goods classified under position 85.17 of the Turkish Customs Tariff Schedule.
- Amendments to Existing Regulations: The decision modifies the existing list of VAT rates by updating the classification of foods for special medical purposes and human medicinal products. It clarifies that if these items are also listed in another specified category, the lower VAT rate will apply.
- Implementation Date: The amendments will take effect immediately following their publication in the Official Gazette.
- Administrative Oversight: The Minister of Treasury and Finance is tasked with executing the provisions of this decision.
This decision reflects Turkey's ongoing efforts to align its tax policies with public health objectives while ensuring compliance with existing laws governing value-added taxation.
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