Turkey: Increase in VAT Thresholds for 2024
The Turkish Official Gazette published Communique No. 48, announcing an amendment to the General VAT Implementation Communiqué. The amendment raises the VAT refund threshold to 90,800 Turkish lira for transactions subject to the reduced VAT rate in 2024, up from the previous threshold of 57,300 lira set for 2023. This update, outlined in the ninth paragraph of Section III/B-3 of the VAT Implementation Communiqué, took effect on January 1, 2024, and will be administered by the Ministry of Treasury and Finance.
Source: gov.tr
