Turkey Introduces VAT Exemptions For Investment Incentive Certificate Scheme And Assets Subject To Financial Leasing

November 7, 2016 All News, Turkey 0 Comments

Communiqué No. 7 on Amending the Communiqué General Application of Value Added Tax (“Communiqué”) was published in Official Gazette number 29847 on 4 October 2016, entering into effect on the same date. Turkey’s Ministry of Finance has announced a range of new exceptions to Value Added Tax. Notable exemptions apply to fixed investments within the scope of the investment incentive certificate scheme, as well as for transfers, leases and sale of movables and immovable which are subject to financial leasing. Also, an exemption is introduced for funds managed by the Turkish Wealth Fund Management Joint Stock Company. source