Prices for a number of staple foods are expected to fall after Turkish President Recep Tayyip Erdogan announced a weekend cut in VAT on staple foods from 8% to 1%.
The Presidential Decree has already been published in the State Gazette and has entered into force. From February 14, basic food will be available in stores at new, lower prices due to the reduction of VAT from 8% to 1%, said the honorary head of the Center for Consumer Offers Aidan Agaoglu.
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Minister of Trade Mehmet Mush sent an order to all 81 district trade administrations to implement the new situation.
According to sources in the trade network, with the reduction of VAT on basic foodstuffs, the unit price is expected to decrease by an average of 5-8 Turkish lira, depending on the type and quantity. The list of basic foods for which prices will be reduced includes about 25 items, including meat, fish, eggs, honey, sugar, cheese, flour, oil, butter, olives, legumes, tea and more.
Fruits and vegetables are also expected to become cheaper due to lower VAT.
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