Finance Minister Berat Albayrak announces reduction in accommodation tax rate

Treasury and Finance Minister Berat Albayrak has announced that VAT rate for services such as accommodation, food and drink services as well as entrance fees for cinema, theatre, museum and cultural activities has been reduced to 1 percent.

Also rent withholding tax for work places has been lowered from 20 percent to 10 percent until end of 2020.

The Minister made concerned announcement on his social media account and also said following: “We do our part to support our business people in every field. May these discounts serve our people well.”