Last minute: Good news for VAT tax cuts from President Erdogan!

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While making important economic statements after the Cabinet meeting, President Erdogan has announced new value-added tax cuts in many areas.

Erdogan describes the sector with reduced VAT and states:

* We have decided to reduce the value-added tax on products that are basic necessities such as detergents, soaps, toilet paper, napkins, and baby diapers from 18% to 8%.

* VAT for all food and beverage services is set to 8%. We have reduced the% VAT rate currently in place at hotels such as first class businesses with 3 stars or higher to 8%.

* Purchased homes are subject to the same gradual VAT application, which varies by square meter wherever you are. In other words, the VAT rate is 8% where the net area does not exceed 150 square meters. The first 150 square meters of homes larger than this size will be subject to 8% VAT and any excess will be subject to 18% VAT.

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* For houses within the scope of the law regarding diversion of areas at risk of disaster, 1% value-added tax will be levied up to 150 square meters, and 18% value-added tax will be levied beyond that.

* Reduce the financial burden on the construction industry by reducing the land and land VAT rate to 8%.

* Another regulation is for our exporters. Exporters who are exempt from VAT paid during the manufacturing process will instead be offered a refund up to a certain percentage of the export price.

* Changed VAT tax exemption method for works within the scope of investment incentive certificate, including tourism investment. The new method will allow manufacturers to perform the same transaction without paying VAT instead of requesting a VAT refund after the investment is completed.

* We have reduced the VAT of medical devices from 18% to 8% under the law of the Ministry of Health.

* In the agricultural sector, VAT will be reduced to 1% for all certified seeds, seedlings and sapling deliveries and 8% for some products such as milk collection tanks.

* By applying voluntary tax withholding, we will thoroughly solve the problem of taxpayers who are concerned about liability and extend the tax exemption period of residences and workplaces brought to foreigners from 1 year to 3 years. To earn foreign currency for our country.

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* In the sale of yachts, boats, and cruise ships, we are currently raising the VAT rate of 1% to 18%, gaining profits from buying and selling vehicles at car dealers.

BUILD-OPERATE-KILIÇDAROĞ Transfer of reaction to LU

Meanwhile, President Erdoğan, who responded harshly to Kılıçdaroğlu, who criticized the Build-Operate-Transfer model, said:

Again in Eurasia, they call it a gang of five. Their friends, with whom they shared the same political views, were among the people who built the Eurasian Tunnel. Believe me if they can come from the Bosphorus, they can commit any kind of betrayal. Misunderstanding the court’s ruling, they did not forget their misery that “the third bridge consists of two concrete towers.” Kemal doesn’t know or understand the meaning of build-operate-transfer. This is not all brave wives. To do this, you need to lick the ink in this area. We did 0054GA, he talked about it too. I don’t know what IGA is. Currently, one of the top three airports is Istanbul Airport.

Now the contractor’s company makes some beauty by making some additional project changes here. They forged, “We pay for the bridge that didn’t cross.” If there are citizens who hesitate because of these lies, I would like to briefly explain what “build-operate-transfer” means to them. $ 35.6 billion has been invested in the world. Turkey is the third in Europe and the thirteenth in the world using this model. Over the last 20 years, Japan has achieved an investment of $ 37.5 billion in the fields of transportation and telecommunications. Mr. Kemal, we didn’t do this from the national budget. They are suppliers and will run them for a while.

“All investments are a common property of the country.”

This account is about the guaranteed amount. The public-private partnership model already contributed $ 395 billion to livelihoods, $ 38 billion to production, and 1 million jobs between 2003 and 2021. A bid to extend the deadline at Antalya Airport put $ 2.38 billion in a safe. Either way, we are pleased to be able to use a profitable and productive investment model for our country in a broad and effective manner. Public investments are made in roads, bridges, hospitals, schools and irrigation facilities in every state, district and land of our country. All investments are a national common property. If you want to invest directly from your budget, we will provide you with a prepayment and step-by-step service. However, with public cooperation, there is no charge allocation from public institutions. The highest income will be obtained when the construction work starts to operate efficiently, and the operation period will be transferred to the state at the end of the operation period. Only € 1.3 billion of VAT revenue will be provided to the state during the operation of the Istanbul-Izmir highway. The annual revenue of fuel savings on the Canakkale Bridge is estimated to be € 415 million.

“We give government opportunities to countries.”

As is known, the construction and operation bid for Antalya Airport in December was € 8,055 million, and the TAV FRAPORT management partnership won. The company that won the bid paid the amount I just mentioned. This is why a significant portion of the deposit is incurred. State facilities make the country free to use. The mission given to them is to stumble and defeat them by regaining them from our administrative system in all areas in unfounded discussions. Ask someone to read the model given to you as your own. Let someone chase your ambitions and dark agenda. We are in love with our country and country. With the goal of 2023 and the mission of 2050, we will continue to work to build and revive a great and powerful Turkey.

“We ranked our country in any country in the world.”

We have solved all the problems that come before our country on the road of democracy and development, so it is us who overcome today’s problems such as living expenses. We have reached today with the heartfelt power of our country by overcoming the obstacles we have encountered in providing these services. We have strengthened the fields of politics, diplomacy and trade activities so that the country can develop. We have put our country on the list of the most listened countries in the world. Our country’s time and energy have been wasted for years, and democracy is left on paper.

Once upon a time, the attacks of terrorist organizations in this country were aimed at the peace of our country. We did not stop solving this problem only within our own boundaries in a determined struggle, we crushed the head and back of the terrorist organization. We fought across national borders. Those who could not succumb to Turkey due to leadership, coups, military threats and international imposition have finally targeted our economy. While we participated in this struggle, the world was on the verge of a coronavirus epidemic. The epidemic crisis turned into an earthquake and gradually spread to the fields of production, logistics and finance. Our priority during this period was to maintain economic activity that would guarantee the work of the people. Not only that, we have moved to the understanding that our investment, employment, production, and our current surplus will further expand our economic plans.

“We are implementing a plan to include Turkey in the 10 largest economies in the world.”

Of course, this historic change came at a price. Our country threatens us with our responsibility to safely escape the country and the country from the toughest storms. Finally, look at the gradual deprivation of Ukrainian lands. All of these scenarios were much more aimed at playing in our country. We have eliminated each threat to the unity of the people and the survival of the nation. What would happen to our country today if our country could be put under the helm of the same dark scenario in the betrayal of guidance, pothole action, and coup attempts on July 15th? I don’t want to say We have made our country a refuge for all oppressed people. 5 million in total. People from Syria, Iraq and Afghanistan. Today, we are implementing a plan to put Turkey in the world’s top 10 economies with the power of work and infrastructure we have brought to our country over the last 20 years. We know what we are doing, why we do it, and what we achieve as a result. We just ask our people patiently.