Nike suspends online sales in Turkey after customs tax increase

Nike suspends online sales in Turkey after customs tax increase/Bloomberg

VoM News Desk | August 10, 2024 | 02:16 PM IST | Breaking News, Turkey, World | Follow on Google News

Nike suspends online sales in Turkey after customs tax increase

Nike suspends online sales in Turkey after customs tax increase

Bloomberg

Nike Inc. suspended online sales in Turkey via its website and mobile appdays after Turkey increased customs taxes on online purchases from abroad.

“We cannot guarantee our consumers that their orders will arrive smoothly and on time, so we are suspending online orders from Turkey for the time being,” the US sneaker giant said in a statement published on its official Turkish website.

“We continue to examine the impact of recent changes to Turkey’s customs regulations on the shopping experience of Turkish consumers,” Nİke added.

While Nike didn’t specify which changes had triggered its move, a new Turkish regulation this week lowered the cap to charge tax on individuals’ online purchases to 30 euros ($33) from 150 euros. The tax rate was also raised to 30% from 20% for goods purchased from the European Union, and to 60% from 30% on goods bought from other countries.

The company continues to sell its products in Turkey at its own stores and those of its retail affiliates.

The new customs measures were aimed at reducing “negative effects” on market share and employment, including among store owners and small and medium enterprises, as well as a loss of foreign currency, Trade Minister Omer Bolat said this week, according to the state-run Anadolu Agency.

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