28.07.2024/32
Tax Regulations Introduced by Law No. 7421
The tax regulations introduced by the Law No. 7421 on the Amendment of Certain Laws and Decree Laws published in the Official Gazette dated 26.07.2024 and numbered 32613 are summarized below:
1. Contracts signed between the Minister of Industry and Technology and Investors are exempted from Stamp Duty.
With the amendment made by Article 3 of Law No. 7421, the investment agreements signed between the Minister of Industry and Technology and investors defined in the Direct Foreign Investment Law No. 4875 dated 5/6/2003 are exempt from stamp duty, as per the change in item (43) of the section titled “IV-Documents related to commercial and civil matters” in the annexed (2) table of the Stamp Tax Law No. 488.
2. SCT Incentive Provided for Some Electric Vehicles that can be Charged from Outside the Vehicle.
With the 11th article of the Law No. 7421, the following sub-lines were added to the list numbered (II) annexed to the Special Consumption Tax Law with the rates shown opposite them to come before the sub-line “- Only those with electric motors” in the “- Others” line of the row numbered 87.03 G.T.İ.P:
| — Vehicles with an electric motor that can be charged from outside, with weighted combined carbon dioxide emissions below 25 grams per kilometer and a range of 70 kilometers or more on equivalent electric energy | |
|---|---|
| — Those with a motor cylinder volume not exceeding 1600 cm3 | |
| — Those with an excise tax base not exceeding 1,350,000 TRY | 30 |
| — Others | 60 |
| — Vehicles with a motor cylinder volume exceeding 1600 cm3 but not exceeding 1800 cm3, and an excise tax base not exceeding 1,350,000 TRY | 70 |
You can access the relevant Law here.
Sincerely,
BİLGENER
