Navigating Turkey’s Evolving VAT Landscape
As an early adopter of the ‘clearance model’, Turkey positions itself as one of the leading countries in the world when it comes to tax digitisation. For more than a decade the Turkish Revenue Authority (TRA) has successfully collected real-time financial data from businesses ensuring the effectiveness of its VAT enforcement system.
With data is becoming more precious than oil and technology, it has transformed global market dynamics across all sectors, and has changed the way businesses operate today.
Data is also transforming the way governments reduce their VAT gap.
Starting almost two decades ago, the first clearance models were introduced by the tax authorities in Latin America with real-time or near real-time reporting. Governments around the world have since become much bolder in introducing structural changes to the way they regulate and enforce VAT, and often at short notice. Turkey is no exception.
The TRA continue to evolve the scope of its VAT control framework. Navigating this ever-changing and evolving transformation is a challenge for all companies trading in Turkey.
Download this e-book if you are:
- A Turkish company with operations exceeding the mandated limits from TRA
- An International company with operations in Turkey