Nike stops online sales in Turkiye after new tax regulation introduced

A presidential decree published in the official gazette today said the new regulation applies to goods ordered from abroad valued up to $31.65, down from the previous limit of $163.82, domestic media outlets reported.

The tax rate on products from European Union (EU) countries has increased from 18 per cent to 30 per cent, while the rate for those from non-EU countries has risen from 30 per cent to 60 per cent.

This legislation played a crucial role in the decision, Nike said in a statement, adding that the company is now assessing how the change would hit the shopping experience.

The company cannot guarantee the delivery of current orders in due course, the statement read.

In the first half this year, the number of online purchases made from abroad in Turkiye increased by 17 per cent, while the total value of these transactions surged by 95 per cent year on year.

Fibre2Fashion News Desk (DS)