Turkey Temporarily Reduces VAT Rates
by Lorys Charalambous, Tax-News.com, Cyprus
07 August 2020
On July 31, 2020, a presidential decree was published in Turkey's official gazette providing for a temporary value-added tax cut across numerous sectors.
Under the measure, VAT is reduced from 18 to eight percent on weddings and associated services, property maintenance and repair services, various other repair services, tailoring services, and dry cleaning services, among others.
Additionally, the rate of VAT is reduced from eight percent to one percent on accommodation, catering, and museum, theatre, and cinema admissions.
The VAT reductions will apply until December 31, 2020.
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