VAT Rates Applicable to the Goods and Services were amended

Through the promulgation of the President Decree No. 2812 (“Decree”), published in the Official Gazette dated 31 July 2020 and No. 31202, VAT rates were reduced to 8% and to 1% for others until 31 December 2020 for specific goods and services.

Through the Decree, it is regulated that 8% VAT will be applied to services such as office rental services and organization services such as congress, conference, seminar, concert and weddings until 31 December 2020.

Additionally, it is regulated that the VAT rate to be applied to some entrance fees, food & beverage services and overnight services specified under List II enclosed to the VAT Code will be 1% until 31 December 2020.

The Decree entered into force on the date of its publication.

You may find the full text of the Decree here.