12.02.2022 ANKARA

M. Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), said they welcomed the reduction of 8% VAT on all food products to 1%.

Following President Recep Tayyip Erdoğan's announcement that VAT on food products covering all stages of production, wholesale trade and retail trade would be reduced to 1%, TOBB President Hisarcıklıoğlu posted on his social media account, “We welcome the reduction of VAT on all food products from 8% to 1%. I invite our members who produce and trade food to support the anti-inflation campaign announced by our President Recep Tayyip Erdoğan.”