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Old 21st January 2010, 13:50   #1 (permalink)
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VAT For Second Hand Car Sales?

The Ministry of Finance is deliberating on adding Value Added Taxes to vehicles sold directly by their owners. The resources collected from this application could result in less price increases on other basic-need items.

The Ministry of Finance is working on a number of measures to increase income in order to maintain a balanced budget. One of the measures that may hit the agenda could be the addition of VAT to automotives purchased second-hand.

According to officials, if VAT is added to second-hand vehicle sales, then other tax increases on basic need items such as electricity and fuel may be prevented.

There may also be certain modifications applied to taxation on items purchased in the virtual world. Items sold through the internet may also be subject to added VAT. No longer will taxes be avoided through sales done directly with the owner.

Source: Sabah English Edition

I'm led to believe that second hand cars in Turkey are pretty expensive compared to what we know in UK/Ireland, so VAT charges as well will not be welcomed I'm sure.


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