Announced in the Official Gazette: VAT decision for social media content creators

With the new regulation, a Value Added Tax (VAT) exemption has been introduced for social content creators who share content via social network providers and for individuals who develop applications for mobile devices, effective from January 1, 2022.

In this context, VAT will not be applied to the earnings obtained by social content creators and application developers.

As of January 1, 2024, the earnings of social content creators who share content via the internet and similar electronic environments, as well as individuals providing services such as individual courses, training, data processing, and product promotion, have also been included in the scope of the VAT exemption.

With the new regulation, VAT will not be calculated on earnings taxed in accordance with Article 20/B of the Income Tax Law. This change aims to alleviate the financial burdens of content creators and individuals providing individual services.

MINISTRY OF TREASURY AND FINANCE AUTHORIZED

The Minister of Treasury and Finance will be authorized in the implementation of the communiqué amendments. While this regulation eases the tax burden for both content creators and mobile application developers, it also aims to increase the state's influence on the digital economy through oversight and regulations.

News Source: 12punto