On 16 April 2020, the Turkish Revenue Administration has issued Draft General Communiqué on disguised profit distribution amending General Communiqué no. 1 on Transfer Pricing.
The Draft Communiqué No. 4 implements the Presidential Decree No. 2151, which was published on 25 February 2020. The Draft Communiqué amends the General Communiqué on disguised profit distribution via transfer pricing has been published and asked for the opinions and suggestions of the taxpayers. The Draft Communiqué provides details on the three-tiered reporting standards (country-by-country reporting, master file and annual transfer pricing report) prepared in line with OECD’s base erosion and profit shifting (BEPS).
The Revenue Administration has asked for the opinions and suggestions of the taxpayers via e-mail by 1 May 2020 at the latest.
