Melikgazi Mayor of Kayseri, Dr. Mustafa Palancıoğlu stated that the VAT rate was reduced to 1 percent in construction contracting works related to urban transformation houses, and explained that urban transformation opportunities for investors increased.
KAYSERİ (İGFA) – Melikgazi Mayor Dr. Mustafa Palancıoğlu stated that reducing the VAT rate from 18 percent to 1 percent in construction contracting works related to urban transformation houses is a great gain for those who want to renew their houses and buildings with urban transformation.
Urban transformation with great success as Melikgazi Municipality Stating that they implemented the project and brought thousands of families to their new homes with modern, healthy and social spaces, Dr. Mustafa Palancıoğlu said, “Property owners have been profitable by reducing the VAT rate for the contracting works to be built in the new construction area up to 1.5 times the existing construction area of the real estate owners within the framework of transformation projects in areas where risky buildings are located within the scope of Law No. 6306, to 1 percent. With the decision taken, a tax reduction opportunity was also provided for risky building owners who could not make a construction contract in return for flat for houses deemed necessary to be renewed against disaster risks, especially earthquakes. ”
He added that it would add a lot of speed and the conversion process would accelerate even more.