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Tax cuts to stimulate the Turkish economy PDF Print E-mail
Friday, 03 April 2009
ShareThe Turkish government is trying to stimulate the economy with targeted cuts in personal consumption taxes, and taxes that impact on small businesses.  

In mid March it was announced that some special consumption taxes (luxury taxes) were to be cut.  Towards the end of March it was further announced that VAT was to be cut for certain items.  Here is a summary of the key points in as far as they impact consumers.
  • Real estate (larger properties over 150 square metres), Land Registry fees have been cut from 1.5% to 0.5%.
  • Automobiles, tax cut from 37% to 16% for new cars bought, up to 1600cc.  Smaller tax cuts are seen for new larger engined vehicles.
  • Electrical goods, including white goods, TVs etc. tax cut from 6.7% to zero.
  • VAT has been cut on furniture for three months from 18% to 8%.
Many people are speculating about whether these cuts will be extended beyong three months, but there is no certainty that they will.  So now is an excellent time to spend money and get yourself a bargain.

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Last Updated on Friday, 03 April 2009