Recep Tayyip Erdogan, Prime Minister, addressing at the parliamentary group meeting, informed that the Value Added Tax (VAT) for textile, ready-made garments and leather industry was reduced from 18 percent to just eight percent.
PM said that this was a positive step for the sectors as this would improve employment, exports and also prices and would prove to be constructive to both producers as well as common consumer.
Unregistered economy is also likely to be abridged with the introduction of the new tax measure.
All types of threads, ready-to-wear garments, curtains, carpets, footwear, home textile goods and underwear, will benefit from the VAT reduction.
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