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 a... Read more

If you are struggling with complex e-invoicing implementations across multiple countries, and if you are concerned about mounting costs, potential delays, or compliance risks, our webinar will help you to learn how global retailers can streamline e-invoicing efficiently! With countries worldwide mandating e-invoicing, international retailers face unique challenges adapting to new regulations acros... Read more

Turkey has introduced updates for New Generation Fuel Pumps (YN Fuel Pump ÖKCs), outlined in the "ÖKCs Record and Report Formats Technical Guide (Version 4.0)." This guide specifies receipt and report formats, including detailed requirements for cash, card, partial payments, and sales tied to vehicle identification systems, ensuring compliance with Turkish tax regulations. Read more

On May 29, 2024, an announcement was made on the Presidency's website regarding a new central application designed to manage communication between the sender unit and the mailbox for e-invoice and e-delivery note documents. Read more

Turkey's recent VAT General Implementation Communiqué update (Serial No. 52) raises VAT refund thresholds from 10,000 TL to 50,000 TL, reduces documentation requirements for refunds under this amount, and adjusts VAT exemptions for transport vehicles and mining activities. Read more

Turkey's Treasury and Finance Ministry plans to leverage AI technology to combat tax evasion, enhance audit efficiency, and detect fraud, particularly in high-risk sectors like construction. By employing predictive and advanced analytics and tools for tax and customs analysis, Turkey aims to improve its tax collection rates and close the compliance gap with other OECD countries. AI will automate a... Read more

Turkey has amended its Tax Procedure Law (Tebliğ No. 459), limiting cash transactions to 7,000 TL (approximately €250) and requiring amounts above this to be processed through financial intermediaries like banks. Read more