Last updated: 27 Mar 2013
Taxation
Value added tax (VAT), assessed on the duty paid value, is levied on most goods. Three rates apply:
- Basic foods and books – 8 per cent
- Basic rate – 18 per cent
- Some food items and others – 1 per cent
Additional taxes (special consumption tax) are imposed on automobiles, cigarettes, alcoholic beverages, white goods and fuel oil.
All corporations and limited liability entities are liable for corporation and withholding tax. Corporation tax is currently 20 per cent and withholding tax is 15 per cent.
A double taxation agreement between Turkey and Australia is still under negotiation.