Extended VAT exemption for deliveries of new machinery and equipment to industrialists

The exemption from Value Added Tax (VAT) for the delivery of new machinery and equipment for manufacturing and design activities to industrialists and R&D centers is extended until the end of 2024.

According to the President’s decision, published in the Official Gazette today and which provides for a modification of provisional article 39 of the VAT Law, VAT taxpayers holders of industrial registration certificates will be used exclusively for the manufacturing industry and R+ D, innovation and design. activities in research laboratories located in R&D and design centers The VAT exemption for deliveries of new machinery and equipment for use is extended until December 31, 2024.

The waiver expires at the end of this year.

According to the information obtained from the Ministry of Finance, the VAT exemption request for some machinery and equipment used in the manufacturing industry, even when the manufacturers did not obtain investment incentive certificates, was extended for another 2 years within within the framework of the president’s authority. (REUTERS, AA)