New Decision on Products to be Imported with Additional Financial Liability
Recently, the Presidential Decree regarding the application of additional financial obligations on the import of certain products was published in the Official Gazette and became official. This decision particularly affects the implementation of low-rate customs duties within the framework of free trade agreements signed between the European Union (EU) and Turkey.
It has been determined that imports are made with low customs tariffs in exports made with Free Movement Certificate (A.TR) within the scope of the Customs Union from countries with which Turkey does not have a preferential trade agreement through the European Union. This situation has created an unfair competition environment against Türkiye.
Three New Countries Included in Additional Tax Scope
In order to eliminate unfair tariff differences, the additional 10 percent tax imposed on various passenger cars originating in Mexico and the Republic of South Africa will also apply to vehicles originating in these countries, as well as Vietnam, Japan and Canada. These vehicles include conventional, hybrid and electric passenger cars imported from the EU with an A.TR Circulation Document.
The Decision Will Come Into Force After 30 Days
Due to the expansion of the aforementioned application on a product and country basis, a period of 30 days has been granted for this decision to enter into force. During this period, all relevant parties are expected to make the necessary preparations.
The implementation of the provisions of this decision will be carried out by the Minister of Trade. The introduction of additional financial obligations is considered an important step in terms of Turkey's trade policies.
