Exemption of taxes on temporarily admitted goods

1. When goods granted temporary admission as prescribed in this Decree are temporarily imported for re-exportation or temporarily exported for re-importation within the period of temporary admission prescribed in Article 6 hereof, they shall be exempted from taxes under the provisions of the Istanbul Convention for use at the events prescribed in Clause 7 Article 3 hereof.

Taxes on the goods which have been granted temporary admission as prescribed in this Decree but not re-imported upon the end of the temporary admission period must be fully declared and paid in accordance with regulations on taxes imposed on exports.

2. Based on the ATA carnet, the customs authority where customs procedures are followed shall determine the goods eligible to be exempted from import/export duties, excise tax, environmental protection tax and VAT in accordance with regulations of the law on taxation.

Article 22. Tax reduction

1. The import or export duties imposed on goods which have been destroyed, seriously damaged or totally lost by accident or force majeure as certified by competent authorities shall be reduced in accordance with regulations of the Law on export and import duties.

2. Applications, procedures and authority to decide reduction of import/export duties shall comply with the Law on export and import duties, the Law on tax administration and its guiding documents. The customs declaration shall be replaced by the exportation voucher or importation voucher of the ATA carnet.

Chapter VII

MANAGEMENT OF NATIONAL GUARANTEE

Article 23. Management of national guarantee

1. The national guarantee shall be provided in the form of guarantee insurance.

2. VCCI shall negotiate and enter into insurance policy with the insurer. VCCI shall be indebted and reimburse the insurer for the amount the insurer paid on its behalf.

3. VCCI shall be allocated funding from state budget for paying annual insurance premiums in accordance with regulations of the Law on state budget.