Turkey legislates Omnibus Law including corporate tax measures
24 January, 2019
Turkey has published Omnibus Law No. 7161 of 17 January 2019 in the Official Gazette and numbered 30659. The Omnibus Law includes the following corporate tax measures:
As from 18 January 2019, existing rules on reduced rates for investment expenditure on manufacturing were extended until 31 December 2019. Consequently, the rate of corporation tax law (CITL) for investment expenditure, which includes an investment certificate for manufacturing, will remain 70%, 80% and 100% in 2019 depending on the province and the investment amount (Article 23 (A) (2) (b) of the corporation Tax Act). In addition, the President was given the power to extend the application period for certain or all investments by up to five years.
With effect from 1 January 2019, the corporation tax exemption for proceeds from the sale of product certificates issued under license Act No 5300 for agricultural products was extended until 31 December 2023.
The Turkey’s Revenue Administration has issued a guide on income tax exemptions for social content creators and mobile app developers operating on online platforms. The guide explains key aspects of the exemption, including eligibility
The Turkish Ministry of Treasury and Finance has released General Communiqué No. 579 on 8 January 2025, amending General Communiqué No. 452 on the Tax Procedure Law (TPL). The amendments introduce expanded documentation and reporting
Turkey’s Ministry of Treasury and Finance has released an updated guide on the Simple Method of Taxation for business income, aimed at individuals engaged in business activities under Article 20/A of the Individual Income Tax Law (IITL). This
Turkey's Ministry of Treasury and Finance has extended the deadline for restructuring public debts under Law No. 7440 to 1 September 2025 for earthquake-affected regions. The first payment is due by 30 September 2025, with subsequent instalments
Turkey has released a new guide outlining the requirement for taxpayers and non-taxpayers, including end consumers, to document collections and payments exceeding 30,000 TL. These transactions must be recorded through documents issued by banks,
Turkey's Revenue Administration has announced the publication of Presidential Decision No. 9487 on 31 January 2025, which extends and modifies the reduced withholding tax rates on income from deposit accounts held in Turkish lira (TRY). Under the
