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Import tax beneficial to Turkey domestic coupler manufactures.

Import tax beneficial to Turkey domestic coupler manufactures.
Issue Time:2019-03-08
The Turkey government raises the tax thresholds of the VAT and the import tax on importing couplers to make a successful customs clearance. Since 2009, the government has set the tax threshold on the FOB price of imported couplers; the minimum quota the importer shall pay for every ton of goods is 18% of the cash payment volume; for importing couplers such as scaffolding coupler from China and other privileged countries, a reasonable tax will be imposed to the total payment.

The FOB price of the stainless steel couplers and high strength carbon steel bolts has been augmented by 29%, equal to an increasing from 3,500$/ton to 4,500$/ton. As for other kinds of couplers, including the bolts, nuts, waltz and other nail samples, their tax thresholds have been increased by 45% from 2,750$/ton to 4,000$/ton. All these tax duty is only available for those imports of goods exceeding 2 tons.

This tax levy measure has already had a good effect in Turkey domestic industry. In order to further and deepen the market demands, the domestic manufactures have already raised the coupler’s price and two manufactures have already invested in relevant R&D. It is estimated a monthly yields of 2,000 plastic bolts will be reached soon.