Turkey Revenue Administration introduced amendments to the country’s transfer pricing regulations which revises the deadlines and authority responsible for overseeing transfer pricing compliance, particularly for Country-by-Country (CbC) reporting, published in Presidential Decision No. 8956 in the Official Gazette (issue no. 32662) on 14 September 2024.
The changes affect the Decision on Concealed Profit Distribution Through Transfer Pricing, initially enacted by the Council of Ministers’ Decision No. 2007/12888 dated 27 November 2007.
Under the previous regulations, a CbC notification had to be submitted electronically by the end of June in the year after the reporting period, providing details of the group’s ultimate parent entity and reporting entity. This has now been revised to a period within six months after the close of the reporting fiscal year.
The deadline for filing CbC reports, however, remains unchanged, staying at 12 months after the end of the reporting fiscal year.
