Turkey VAT Calculator

In Turkey, the standard rate of VAT is 18%. A reduced rate of 8% is applied to basic foodstuffs, medical products, books. A super-reduced rate of 1% is applied to agricultural products, certain residential properties, newspapers & periodicals. Periodic value added tax returns must be submitted monthly. Returns need to be paid by 24th of the month and any liability should be paid by the 26th.

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In Turkey, the standard rate of VAT is 18%. A reduced rate of 8% is applied to basic foodstuffs, medical products, books. A super-reduced rate of 1% is applied to agricultural products, certain residential properties, newspapers & periodicals. Periodic value added tax returns must be submitted monthly. Returns need to be paid by 24th of the month and any liability should be paid by the 26th.

Formula:

Add Tax Tax Amount = ( Original Cost * VAT% ) / 100 Net Price = Original Cost + Tax Amount
Remove Tax Tax Amount = Original Cost - ( Original Cost * ( 100 / ( 100 + VAT% ) ) ) Net Price = Original Cost - Tax Amount

Companies can opt to file for value added tax returns online or on paper. From 2003, Turkish VAT Law states that an application can be made for the recovery of VAT incurred on purchases of goods and services relating to transportation activities, and goods and services relating to participation in fairs and exhibitions.

Example

Find the VAT price and net price in Turkey (GST % is 18) for an amount of 25000 ₤

Add Tax

Solution :
GST % = 18
Amount = 25000

Step 1 :
GST Price = (25000 * 18 ) / 100
     = 4500 ₤

Step 2 :
Net Price = 25000 + 4500
     = 29500 ₤

Hence the VAT Price is 4500 ₤ and Net Price is 29500 ₤

Remove Tax

Solution :
GST % = 18
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 18)))
                 = 25000 - (25000 * 0.85)
                 = 25000 - 21186.44
                 = 25000 - 21186.44
GST Price = 3813.56 ₤

Step 2 :
Net Price = 25000 - 3813.56
                = 21186.44 ₤

Hence the VAT Price is 3813.56 ₤ and Net Price is 21186.44 ₤

Companies can opt to file for value added tax returns online or on paper. From 2003, Turkish VAT Law states that an application can be made for the recovery of VAT incurred on purchases of goods and services relating to transportation activities, and goods and services relating to participation in fairs and exhibitions.


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