The Duration of VAT Rate Discounts on Certain Goods and Services is Extended Until July 31st
Through the promulgation of the President Decree No. 4062, published in the Official Gazette dated 2 June 2021 and No. 31499 (“Decision”), the duration of Value Added Tax (“VAT”) rate discounts on certain goods and services is extended until 31 July 2021.
According to the Decision, VAT in the rate of 8% will be applied to services such as office rental services and organization services such as congress, conference, seminar, concert and weddings; VAT in the rate of 1% will be applied to some entrance fees, food & beverage services until 31 July 2021.
Besides, according to the Decision, overnight services, whose VAT rate was determined as 1% until 30 June 2021 within the scope of the President Decree No. 3931, has been removed from the list of services to which a reduced VAT rate will be applied until 31 July 2021.
The Decision entered into force on the date of its publication, with effect from 1 June 2021.
You may find the full text of the Decision here.
All rights of this article are reserved. This article may not be used, reproduced, copied, published, distributed, or otherwise disseminated without quotation or Erdem & Erdem Law Firm's written consent. Any content created without citing the resource or Erdem & Erdem Law Firm’s written consent is regularly tracked, and legal action will be taken in case of violation.