Turkey Assembly Considers Bills to Exempt VAT, Special Consumption Tax on Specific Vehicles

The Turkish Grand National Assembly Nov. 20 accepted for consideration Bill Nos. 2/2697 and 2/2699, to exempt specific vehicles from VAT and special consumption tax. The bills include measures to: 1) exempt from special consumption tax new domestically manufactured vehicles purchased by individuals recycling their vehicles that are at least 25 years old; and 2) exempt from special consumption tax and VAT new vehicles purchased as a replacement for commercial use by an individuals making their living by a single vehicle, and if used in commercial activities for 10 years. The laws would enter into force upon publication. [Turkey, Grand ...