The Law No. 6824 was published in the official gazette on 8th March 2017 that amend a number of laws. Under the Law, a compliant taxpayer is defined as a taxpayer not having tax debts or not including tax penalties over the amount of TRY 1,000. The reduction in case of compliant taxpayers will be effective from 1st January 2018. A 5% reduction has been introduced in the Law for compliant taxpayers, with the exception of financing and banking companies, insurance and reassurance companies, pension companies and pension mutual funds. Also, the amount of the unused reduction will be credited within 1 year against a taxpayer’s other tax debts, but will not be refunded. The Law presents a new section on stamp duty rates applicable to specific types of contracts (i.e. building inspection contracts, contracts between contractors and sub-contractors, contracts with land owners and counseling service contracts in case of construction works or revenue sharing business model) used in the construction sector and it was entered into force on 8th March 2017. The Law permits the Council of Ministers to modify the deed fee rates which are based on the type, size, location and tax value of the real estate. The amendment on fee was entered into force on 8th March 2017. A new VAT exemption was introduced by this Law in case of first-time sales of houses or workplaces to non-residents on the condition that the foreign currency paid for the real estate is shifted to Turkey. Besides, non-resident Turkish citizens having obtained a residence and work permit in foreign countries. Again, non-resident companies are also covered by this new VAT exemption. The VAT exemption will be effective from 1st April 2017.