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