VAT on Basic Food Products Decreased to 1 Percent! So Which Products Are VAT Discount Valid?

VAT on Basic Food Products Decreased to 1 Percent! So, Which Products Are VAT Discount Applicable To?
VAT on Basic Food Products Decreased to 1 Percent! So, Which Products Are VAT Discount Applicable To?

President Recep Tayyip Erdoğan announced that VAT on basic food products has been reduced to 1 percent. So, on which products does the VAT discount apply to basic food products? What does the VAT deduction cover? How will the decline affect food prices? How much will the price of each product drop? What are the basic food products with VAT deduction?

President Recep Tayyip Erdoğan announced that the 8 percent VAT rate on basic consumer goods has been reduced to 1 percent. The President's decision to reduce the 8 percent VAT on food products to 1 percent was also published in the Official Gazette.

On which food products does the VAT discount apply?

On which food products is the VAT discount valid?

The list of basic food products with VAT reduction is as follows:

  • Cheese
  • Olive
  • egg
  • Çay / Tea
  • Et
  • Milk
  • Rice
  • Vegetables and fruits
  • Legumes products
  • Nutrients such as protein and fat

When will the VAT reduction be reflected in the prices?

shopping

With the reduction of the VAT rate on food products from 8 percent to 1 percent, a reduction in market prices is expected. After the decision published in the Official Gazette dated February 13, price reductions are expected from market chains as of Monday.

How will the decline affect food prices?

cheese

I looked at it, cheese is sold for 50 liras on average. It differs according to the type, but after this tax regulation, the cheese we bought for 50 liras will decrease from 46 liras to 75 cents. I calculated olives from 35 liras, 32 liras falls to 70 cents. At least it would be beneficial for them to correct it as 32 liras, not 30 liras. Currently, we cannot find the price of liquid oil less than 5 LT 125 lira. 25 lira, which is 23 lira, will decrease to 30 cents.”

What are the importance of nutrition in the season and what are the vegetables and fruits that should be consumed in April?

When we look at the fruits we buy with 10 liras and vegetables for 9 liras and 35 kurus with this discount, let's assume that summer products such as zucchini and eggplant are 15 TL. Its price is also expected to drop to 14 liras.

How much will the price of each product drop?

olive oil

  • While 1 kilogram of yogurt is sold for 14 liras, this figure will decrease to 13 liras after the VAT reduction.
  • While 1 kilogram of butter is sold for 70 liras, this figure will decrease to 65 liras after the VAT reduction.
  • While 30 eggs (L-size) are sold for 45 liras, this figure will decrease to 42 liras after the VAT reduction.
  • While 1 kilogram of sugar is sold at 8 liras, this figure will decrease to 7,5 liras after the VAT reduction.
  • While 1 kilogram of olive oil is sold for 60 liras, this figure will decrease to 55.5 liras after the VAT reduction.

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