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Turkey Cuts VAT On Furniture

by Lorys Charalambous, Tax-News.com, Cyprus

15 January 2020


The Turkish Government has decided to reinstate a reduced rate of value-added tax on supplies of furniture, according to Finance Minister Berat Albayrak.

As reported by various local media outlets, Albayrak told a gathering of business people in the northwest of Turkey on January 2, 2020, that the Government has reduced the rate of VAT on furniture to eight percent from 18 percent following discussions with manufacturers.

Turkey previously reduced VAT on furniture to eight percent as part of a package of temporary VAT cuts in 2018, subsequently extending the measure until its final expiry in June 2019.

Albayrak suggested that the measure would apply for the duration of 2020.

TAGS: Finance | VAT rates | tax | value added tax (VAT) | Turkey

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