Turkey introduced the Economic Stability Shield Package (Package) to lessen the impacts of COVID-19 on businesses. According to the Package there are two types of measures: measures for taxpayers that are considered to be under force majeure conditions and general measures introduced for all taxpayers.
The latter are as follows;
- The filing date of the annual income tax return for individuals and the first installment payment date of the same have been extended to 30 April 2020.
- The period of the VAT Tax return and the payment for the 2020/February period to be made by the end of 26 March 2020 have been extended to 24 April 2020.
- The deadline for the “Form Ba” and “Form Bs” notifications for the 2020/February period which was to be submitted by 31 March 2020 has been extended to 30 April 2020.
- The period for the creation and signing of the Electronic Ledgers and the upload of the Electronic Book Statements to be made by 31 March 2020 have been extended to 30 April 2020.
- The VAT rate for domestic flights has been lowered from 18% to 1% for three months
