VAT in Turkey on flowers, plants reduced from 18% to 8% until the end of 2020

With the decision announced on July 31st, 2020, the industries that are most impacted by the Covid-19 outbreak have been granted tax exemptions. Turkish floriculture industry is among the industries included in the tax exemption program. Industry members have been long lobbying for exemptions and incentives due to the stop of exports and a decline in the domestic demand. According to the decision, the VAT for ornamental plants and cut flowers is lowered from 18% to 8% to lower the end-sale prices of the products and to boost their sales.  The tax exemption will be valid for all transactions until the end of 2020.

Source: Haberimport

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