VAT and SCT Cuts on 6 Items Announced by Minister Albayrak

Treasury and Finance Minister Berat Albayrak announced that tax reductions will be applied in 4 sectors and across 6 headings until year-end. VAT on furniture will drop to 8%, while SCT on white goods will be zeroed out through the end of the year. Vehicles with engines under 1600 cc will see SCT reduced by 15 percentage points. Commercial vehicles will see VAT cut from 18% to 1%, while VAT relief on housing will continue. Treasury and Finance Minister Berat Albayrak stated, "I want to particularly emphasize that I will closely monitor the pass-through of cost reductions from these applied tax cuts to final sales prices."