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Futures
Futures
Hundreds of contracts settled in USDT or BTC
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HOT
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Unified Account
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Investment
Simple Earn
VIP
Earn interests with idle tokens
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Auto-invest on a regular basis
Dual Investment
Buy low and sell high to take profits from price fluctuations
Quant Fund
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Top asset management team helps you profit without hassle
Crypto Loan
0 Fees
Pledge one crypto to borrow another
Lending Center
One-Stop Lending Hub
VIP Wealth Hub
New
Customized wealth management empowers your assets growth
Staking
Stake cryptos to earn in PoS products
BTC Staking
HOT
Stake BTC and earn 10% APR
ETH Staking
HOT
Stake ETH and earn 6% APR
GUSD Minting
New
Use USDT/USDC to mint GUSD for treasury-level yields
Soft Staking
Earn rewards with flexible staking
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👉 https://www.gate.com/announcements/articl - 🌕 Gate Square · Creator Incentive Program Day 10 Topic– #Fed Cuts Rates By 25 Bps# !
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When a citizen pays 70-220% in ÖTV when buying a car in Turkey, they are understandably surprised to learn that when a million-dollar yacht is purchased in the same country, only 0% ÖTV is paid, (. So why?
Yachts are not subject to special consumption tax. Because the law is like that. According to the Special Consumption Tax Law, the VAT rate for "yachts, motorboats, boats, and pleasure boats" is 0%. This practice has been in effect since 2017 and is still valid. While a car is subject to 220% VAT, it is zero for a yacht worth 20 million.
But are there other taxes? Yes. VAT: 20%, MTV: an annual tax based on engine power and age. Customs duty: 0% on boats imported from abroad, that is, none.
So there is no Special Consumption Tax (ÖTV), but there is Value Added Tax (KDV) and Motor Vehicle Tax (MTV). However, the absence of the highest item, ÖTV, is a significant advantage.
Why is there no Special Consumption Tax? The justification is not clearly stated, but there are two possibilities: Turkey wants to promote the maritime sector or aims to increase domestic production in the luxury yacht market.
However, this situation fuels the discussion of "tax justice" on social media among the public.