Turkey has lowered VAT on basic food products from 8 percent to 1 percent. With this step, Turkish President Recep Tayyip Erdogan wants to compensate for the high inflation in the country. He expects the tax cut to cause the prices of, among other things, rice, meat, dairy and eggs to fall. Erdogan said in a televised speech that the reduction is also intended to simplify the VAT system.
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Turkey cuts VAT on food to keep food affordable
