Inflation Continues to Impact Trademark Fees
This week, we get the details behind Turkey’s substantial trademark fee and VAT increase. This is likely a preview of several increased fees anticipated this fall as governments grapple with inflationary pressures.
Turkey Trademark Fee Updates Effective July 8
The Turkish Government recently announced an increase in the official fees for patents and trademarks and Value Added Tax (VAT) rates. The new PTO fees went into effect on July 8th. The new VAT rate for goods and services is raised from 18% to 20% and takes effect on July 10th. The VAT increase applies to a broad array of products and services and is likely an attempt to combat a growing budget deficit and inflationary pressures.
Highlights of the fee increase:
Application costs (for each class) have increased from TRY 760 to TRY 1,030.54.
The registration fee (regardless of the number of classes) has increased from TRY 1,960 to TRY 2.536,60.
- The renewal fee (regardless of the number of classes) has increased from TRY 2,450 to 3,162.29.
- All other trademark costs have been increased by 50% on average.
