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16.12.2013 10:09

Turkey exempts TANAP gas pipeline from VAT

The Turkish government considers exemption of the companies transporting oil and gas via pipelines from VAT, reported Turkish Sabah newspaper.
The tax amendments submitted to the Turkish government envisage exemption of the companies transporting oil and gas via the pipelines from VAT. If the proposal is taken, VAT concession will be also applied to construction of the trans-Anadolu gas pipeline (TAP), the newspaper reads.
The newspaper reported that the oil companies buying building materials for the pipelines will be also exempt from VAT.
The measures will allow increasing flow of investments into Turkeys energy sector and reduce deficit of the current transactions of the payment balance, the newspaper reads.
It was earlier announced that Turkey and the autonomous province of Iraq Kurdistan have signed several contracts, which allow Kurdistan exporting oil and gas via the pipelines on the territory of Turkey.

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