Turkey ends low-value consignment stock relief
- Jun 12, 2019 | Richard Asquith
Turkey has withdrawn the import VAT low value consignment stock relief at the start of this month. Previously, postal packages with a declared value of €22 or less were exempted from import VAT.
The EU has the same exemption. However, it is also intending to withdraw its exemption in 2021. The explosive growth of e-commerce has meat a expanding volume of trade is escaping the tax net. Also, the threshold has enabled large amounts of fraud through deliberate under declaration of values on import documentation.