Yeni Vergi: A Comprehensive Guide

What is Yeni Vergi (New Tax)?

Yeni Vergi is a new tax introduced by the Turkish government in 2023. It is a value-added tax (VAT) that is applied to all goods and services sold in Turkey. The standard VAT rate is 18%, but there are reduced rates of 8% and 1% for certain goods and services.

Who is Liable to Pay Yeni Vergi?

All businesses in Turkey are liable to pay Yeni Vergi, regardless of their size or sector. This includes companies, sole traders, and partnerships.

How is Yeni Vergi Calculated?

Yeni Vergi is calculated as a percentage of the sale price of goods or services. The standard VAT rate is 18%, but there are reduced rates of 8% and 1% for certain goods and services. The amount of tax due is calculated by multiplying the sale price by the applicable VAT rate.

When is Yeni Vergi Due?

Yeni Vergi is due on a monthly basis. Businesses must file a VAT return by the 24th of the following month after the end of the tax period. The VAT return must include details of all sales and purchases made during the tax period, as well as the amount of VAT due.

Penalties for Non-Compliance

Businesses that fail to comply with Yeni Vergi regulations may face penalties. These penalties can include fines, interest charges, and even imprisonment.

How to Avoid Penalties

To avoid penalties, businesses should ensure that they are registered for VAT, that they are filing VAT returns on time, and that they are paying the correct amount of VAT.

Yeni Vergi