Cabinet approval was granted to increase the Value Added Tax (VAT) from 15% to 18% from January 1, 2024.
According to the list of cabinet decisions taken yesterday (30), although the tax revenue of the state has risen by 51% in the first nine months of 2023 compared to 2022, it has not yet reached the targets set by the International Monetary Fund (IMF).
The Department of Government Information has announced that, in addition to raising the VAT rate, the new rate will also be applied to specific goods and services that were previously exempt from VAT.
