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Turkiye: The input cost of the industrialist will decrease

Customs duties applied to raw materials and intermediate products, which are not domestically produced, were reduced in order to reduce the input costs of the industrialists.

With the President’s Decision published in the Official Gazette on the subject, the Import Regime Decision for some industrial products was amended.

With the decision, customs duties applied to raw materials and intermediate products that are not domestically produced in Turkey were reduced simultaneously with the European Union (EU) in order to reduce the input costs of the industrialists and increase their competitiveness.

The decision will enter into force on 1 July.

Customs tariff regulation between OIC countries

With another Presidential Decision published in the Official Gazette, regulation was entered into within the scope of the “Preferential Trade System (TPS-OIC) Framework Agreement Between the Member States of the Organization of the Islamic Conference (OIC)”.

The Preferential Tariff Arrangement Protocol (PRETAS) regarding tariff reductions regulated within the scope of the agreement was reflected in the Import Regime Decision to be valid between Turkey and 12 OIC member countries (Kingdom of Bahrain, People’s Republic of Bangladesh, United Arab Emirates, Kingdom of Morocco, Islamic Republic of Iran, State of Qatar, State of Kuwait, Malaysia, Islamic Republic of Pakistan, Kingdom of Saudi Arabia, Sultanate of Oman and Hashemite Kingdom of Jordan) that have completed their obligations regarding the said agreement.

Within the scope of the agreement, customs duties were regulated in 416 basic agricultural products, 295 fishery products and 96 iron and steel products on the basis of 12 customs tariff statistics positions.

The decision will enter into force on 1 July.

Customs duty increased on ethyl alcohol

In another decision, in order to support domestic production of ethyl alcohol used in industrial products, the customs duty applied as 10% for bulk products and as 15% for packaged products was determined as 30%.

The decision will take effect after 15 days.

Source: Trthaber / Translated by Irem Yildiz

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