VAT deduction on imports abolished

The decision regarding VAT applied to imports, issued by presidential decree, has been published in the Official Gazette.

"THE RIGHT TO DEDUCT VALUE-ADDED TAX HAS BEEN ABOLISHED"

The decision, which entered into force upon its publication date, appeared in the Official Gazette as follows:

• The right to deduct value-added tax paid on amounts declared in customs declarations for goods subject to surveillance measures in accordance with the relevant legislation on import surveillance applications, which cannot be documented, as well as on all kinds of taxes, duties, fees, and shares arising from these amounts and included in the value-added tax base, has been abolished.
• The right to deduct value-added tax paid on customs duties and/or additional financial liabilities applied as safeguard measures in accordance with the relevant legislation on import surveillance, as well as on anti-dumping duties and countervailing duties applied within the scope of the relevant legislation on the prevention of unfair competition in imports, and on all kinds of taxes, duties, fees, and shares arising from these amounts and included in the value-added tax base, has been abolished.
  

News Source: 12punto