i-Value Added Tax (VAT)
The generally applied VAT rates are set at 1%, 8%, and 18%. Commercial, industrial, agricultural, and independent professional goods and services, goods and services imported into the country, and deliveries of goods and services as a result of other activities are all subject to VAT.

VAT exemptions include, but are not limited to, the following:

• Exports of goods and services
   
• Roaming services rendered in Turkey for customers from outside Turkey (i.e. non-resident customers) in line with international roaming agreements, where a reciprocity condition is in place
   
• Contract manufacturing for clients operating in free zones
   
• Petroleum exploration activities
   
• Services rendered at harbors and airports for vessels and aircrafts
   
• Supply of machinery and equipment within the scope of an investment certificate
   
• Transit transportation
   
• Deliveries and services made to diplomatic representatives and consulates on condition of reciprocity and to international organizations with tax exemption status and to their employees
   
• Banking and insurance transactions that are subject to Banking and Insurance Transactions Tax
   

ii-Special Consumption Tax (SCT)
There are four main product groups that are subject to SCT at different tax rates:

• Petroleum products, natural gas, lubricating oil, solvents, and derivatives of solvents
   
• Automobiles and other vehicles, motorcycles, planes, helicopters, yachts
   
• Tobacco and tobacco products, alcoholic beverages
   
• Luxury products
  Unlike VAT, which is applied on each delivery, SCT is charged only once.

iii-Banking and Insurance Transaction Tax
Banking and insurance company transactions remain exempt from VAT but are subject to a Banking and Insurance Transaction Tax. This tax applies to income earned by banks, such as loan interest. Although the general rate is 5%, some transactions, such as interest on deposit transactions between banks, are taxed at 1%. No tax has been levied on sales from foreign exchange transactions since 2008.

iv-Stamp Duty
Stamp duty applies to a wide range of documents, including contracts, notes payable, capital contributions, letters of credit, letters of guarantee, financial statements, and payrolls. Stamp duty is levied as a percentage of the value of the document at rates ranging from 0.189% to 0.948% or is collected as a fixed price (a pre-determined price) for some documents.