CONTRIBUTOR ARTICLE 02 January 2023 CottGroup To print this article, all you need is to be registered or login on Mondaq.com. In accordance with the Industrial Registry Law No. 6948 (In Turkish) of April 17, 1957, which is included in the Article 8 of the Law No.
7201 (In Turkish) published in the Official Gazette No. 30988 dated 24.12.2019 and the provisional article 39 of the Law No. 3065 (In Turkish); the period of VAT exemption applied in the deliveries of new machinery and equipment was extended until December 31, 2022.
With the Presidential Decree published in the Official Gazette No. 32050 dated 21.12.2022, relevant period is extended until December 31, 2024. According to the 39th article of the VAT Law, new machinery and equipment deliveries made exclusively for use in the manufacturing industry to VAT taxpayers holding industrial registration certificate, and those engaged in R&D, innovation and design activities in the technology development zone and specialized technology development zone, R&D innovation and design centers and research laboratories, and to be used exclusively in these activities; deliveries of new machinery and equipment are exempt from VAT until December 31, 2024.
You can access related Official Gazette from here (In Turkish). The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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