As of November 14, 2024, Turkey expanded the list of goods subject to the 10% VAT rate, including foods for special medicinal purposes, active substances in medicinal products, and raw materials for active substance production. This adjustment, implemented under Decision Number 9126, aligns with Turkey's VAT Law No. 3065 and aims to support public health initiatives while refining tax classificati... Read more

Turkey’s e-Invoicing system, mandated by the Revenue Administration, facilitates digital invoice exchanges for improved efficiency, compliance, and transaction transparency. It encompasses Business-to-Business (B2B), Business-to-Government (B2G), and Business-to-Consumer (B2C) invoicing, with mandatory participation for businesses exceeding turnover thresholds or operating in regulated sectors. Read more

Turkey has increased tax penalties starting January 1, 2025, as outlined in General Communiqué No. 577, with rates adjusted to a revaluation rate of 43.93% for the 2024 tax year. Key changes include higher fines for irregularities, escalating penalties for repeated non-compliance with invoice and delivery note requirements, and additional fines for withholding requested information. Read more

Turkey has implemented immediate adjustments to Special Consumption Tax (SCT) rates on fuels and chemicals, including natural gas, propane, and aviation fuel, as published in Decision No. 9380 on December 31, 2024. The changes, effective on the day of publication, may increase operational costs for businesses and prices for consumers. Read more

On December 24, 2024, Turkey's Official Gazette published Decision No. 9309, which establishes new minimum fixed special consumption tax amounts for alcoholic beverages and hookah tobacco, effective immediately. This decision reflects the Turkish government's ongoing strategy to regulate alcohol consumption through taxation, having previously increased special consumption taxes by 1,543% over the past 13 years. Read more

Turkey's Presidential Decree No. 9284 introduces a 1% withholding tax on payments made through electronic commerce platforms, effective January 1, 2025. In the following, you will find out who is affected. Read more