Rail system investments will be exempt from VAT

Rail system investments will be exempt from VAT
The rail system investments to be made within the scope of the 2023 targets will be exempt from VAT. Incentives will also benefit municipalities
The government pushed the button for VAT exemption to rail system infrastructure works within the scope of 2023 projects. Accordingly, urban rail transportation systems, metro, tram, cable car, ski lift investments will be excluded from tax. In addition, the lines of the roads in question, stations, passenger terminals and stall work will also be exempt. The government added a surprise item at the last moment to the bag law proposal for the sale and promotion of alcoholic products and brought tax incentives to rail system investments. All the rail system works within the scope of 2023 targets will be benefited from the incentive. In addition, the tax exemption will apply not only to the Ministry of Transport but also to the transfer of municipalities. The application is expected to continue until 31 December 2023.

The arrangement with the proposal will strengthen the hand of local governments in investments. The goal is to complete all the lines such as metro, especially the city rail transportation system, by the Ministry of Transport and complete it as soon as possible. Ministry of Transport officials said that the arrangement came up especially for the giant projects in Istanbul. According to the decision, taxes and taxes imposed on 2023 will be deducted from the tax calculated due to taxable transactions. Taxes that cannot be discounted will not be refunded.

Source : www.sabah.com.t is

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