Recent Development
The Presidential Decree dated May 19, 2020 and no. 2565 ("Decree") introduced additional customs duty rates for nearly 800 products under the list no. II of the Import Regime Decree. The Presidential Decree was published in the Official Gazette on May 20, 2020. The Decree is available online here (in Turkish).
What's New?
The import of certain iron and steel products; electronic appliances; plastic and rubber products; certain chemical goods; cotton yarn; metering and calibration equipment; construction machines and farm machines; and other products listed under the Import Regime Decree will be subject to additional customs duty ranging between 2% and 30%.
The additional customs duty of up to 30% will be applied until September 30, 2020, as indicated in Annex-2 of the Decree. The relevant additional customs duty will be applied in lower rates after October 1, 2020 as indicated in Annex-1 of the Decree. The Presidential Decree introduces an exception to the imposition of additional customs taxes if the relevant goods are ready for shipment and imported before a certain date. Accordingly, if the customs declaration regarding the import of goods is registered within 15 days from the publication of the Decree, the lower additional customs duty indicated in the Annex-1 of the Decree will be applied.
Conclusion
Turkey continues to take measures to protect its domestic textile and industrial sectors due to current fluctuations in the global market. Accordingly, importers should review the Decree and closely follow the developments in this regard.
Originally published 22 May 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.