Turkey Gazettes General Communique Exempting VAT for R&D, Manufacturing, Tourism Industry

The Turkish Official Gazette May 28 published General Communique No. 42 exempting VAT for R&D, manufacturing, and the tourism industry. The communique includes measures: 1) exempting VAT on the delivery of goods and services related to construction projects in the manufacturing and tourism industries, effective through Dec. 31, 2025; 2) exempting VAT on R&D activities of electric motor vehicle manufacturers, effective through Dec. 31, 2023; 3) providing eligibility and application requirements for the exemption; 4) providing requirements and maximum limit for investment incentive certificates; and 5) providing penalties for non-compliance. The communique enters into force and generally takes effect the ...