Import Taxes Increased
Fearing and facing a big recession caused by the pandemic, Türkiye is trying to protect its industrial producers from external and foreign competition.
The Turkish government has imposed additional import taxes ranging from 2.3% to 45% on products ranging from chemicals to machinery. These new taxes will be in place until September 30th 2020.
Bloomberg reports:
The measures unveiled so far are among the most far-reaching protectionist responses to the spreading crisis, which has already upended global supply lines. Other major economies have taken narrower steps, with Germany tightening protections for companies from foreign takeovers, Russia restricting the shipments of wheat, and the U.S. looking to ban the export of supplies needed to fight the disease.
Read the full article here.
Exporting to Countries Outside of the European Union?
If you want to export goods to countries outside of the European Union you can use the European Commission's Market Access Database to look what the conditions are for importing your goods into that country, and what tariffs are applicable. Make sure you have the HS-Codes of the goods. You need to enter them in the database.
Empowering Global Trade: exporting to Türkiye
If you have customers in Turkey or want to start exporting to Turkey, we have a team of specialists to support you with that. Whether it is the creation of ATR documents or assistance with other documentation or permits you may need to ship your goods to Turkey without issues.
Contact one of our specialists if you have any questions. Customs Support: Empowering Global Trade
