Temporary Tax Reductions in Erdoğan’s Crisis Package
The Prime Minister has annonced a crisis package which involves a three-monthly reduction in certain taxes.
At a local election rally in Çankırı, central Anatolia, Prime Minister Recep Tayyip Erdoğan announced a new package to combat effects of the economic crisis.
The package includes tax reductions which will be valid for three months:
- The 1.5 percent title deed fee charged during the sale of second-hand buildings and offices is reduced to 0.5 percent.
- Value Added Tax (VAT) charged during the sale of buildings is reduced from 18 to 8 percent.
- VAT on home and office furniture is reduced from 18 to 8 percent.
- VAT on computers, IT technology and office technology is also reduced to 8 percent.
- Small and medium-sized businesses can make use of the same VAT reduction (from 18 to 8 percent) when purchasing certain industrial and work machines. (TK/AG)
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