NEWS Accounting        30/06/2020

Turkey suspends custom duties on some imported products

In accordance with supplementary presidential decree relating to Turkey’s import regime as published in today’s official gazette, the Turkish government has suspended custom duties on some imported products.

 

These products include some chemical substances, additive substances used in the production of motor oil, raw materials used in the production of airplane parts and motors, electrical drive arrangements, lithium-ion batteries and electronic parts.

 

Changes were also made to some 40 products, including textile, leather, footwear and similar products, with revisions to their custom duty ratios ranging from between 0 to 20%.

 

 

 



Turkey’s net minimum wage has been raised 49% to TL 17,002 (USD 577) as of 01.01.2024       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s official annual inflation rate increases to 75.45% in May 2024       Turkey’s official unemployment rate is 8.6% in March 2024       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 85,372,377 as of 2023 yearend       No. of foreigners visiting Turkey in 2023 increases 10.4% to 49.2 million       Turkey’s private sector foreign debt is USD 164.1 billion as of yearend 2023       Turkey’s economy grew 4.5% in 2023       FDI to Turkey is USD 10.6 billion in 2023       Turkey’s current account deficit is USD 45 billion in 2023