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Reading Time: 2 minutes President Recep Tayyip Erdoğan announced a package of 19 items called “Economic Stability Shield” to reduce the effects of the COVID-19 outbreak on 18.03.2020. 1- Concise and VAT withholding and SSI premiums for Retail, AVM, Iron-Steel, Automotive, Logistics-Transportation, Cinema-Theater, Accommodation, Food-Beverage, Textile-Garment and Event-Organization sectors were delayed for 6 months. 2- The accommodation tax will not be applied until November. 3- The easement rights and revenue share payments related to hotel rentals were postponed for 6 months for April, May and June. 4- In domestic air transportation, the VAT rate has been reduced from 18 percent to 1 percent for 3 months. 5- As the KOVİD-19 outbreak is affected by the measures related to the outbreak, the companies’ cash principal...

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Reading Time: < 1 minutes Please follow the link below.   Announcement Regarding Economic Stability Shield Package And The Other Measures Taken In The Field Of Economics