Business

Turkiye: VAT reduced on prefabricated buildings and containers, and exports have been prohibited

The VAT rate on the delivery of prefabricated structures and containers to institutions and organizations related to disaster victims in 10 provinces affected by the earthquake was reduced from 18% to 1% until the end of the year. In addition, exports of these products were banned for a month in order to urgently meet the need for shelter due to earthquakes.

The Presidential Decision Amending the Decision Regarding the Determination of Value Added Tax Rates to be Applied to Goods and Services was published in the Official Gazette.

Described as “the disaster of the century” with the temporary article added to the decision, VAT rate was reduced from 18% to 1% by the end of the year, including the installation and assembly processes, for the delivery of prefabricated structures and containers to be used in 10 provinces where a state of emergency was declared due to earthquakes, to institutions and organizations related to disaster victims.

Export of container houses and prefabricated buildings is prohibited

The Ministry of Commerce shared on its social media account regarding the export of container houses and prefabricated buildings.

In the post, “The export of container houses and prefabricated buildings has been banned for 3 months as of February 15, in order to contribute to the urgent need for temporary shelter that arose due to the earthquakes in Kahramanmaras, the epicenter.”

Source: Trthaber / Prepared by Irem Yildiz

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