Turkey: Tax calendar for special taxpayers
The tax authority has issued a regulation entitled “Regulation SNAT/2016/0098” and it was published and entered into force on 8th November 2016. It creates the 2017 tax calendar for special taxpayers, listing the due dates for the tax returns
See MoreTurkey: R&D reform Package increases
Some amendments regarding the current research and development (R&D) incentives were introduced on the basis of Turkish Law no. 6676. Companies those carry out R&D activities in Turkey may benefit from the R&D incentives and aids for
See MoreTurkey: Draft General Communiqué on Corporate Tax Law issued
The Revenue Administration of Turkey has issued a draft General Communiqué No. 11 on 6th September 2016 regarding Corporate Tax Law (Law No. 5520) on its website. The draft was published in Official Gazette No. 29796 on 9th August 2016. It results
See MoreTurkey: Amendment in transfer pricing legislation
The Law No. 6728 on the amendment of certain laws for the improvement of the investment landscape has been published in the Official Gazette on 9 August 2016. This law amended certain transfer pricing provisions. Some of the provisions are given
See MoreTurkey: Draft General Communiqué on CIT Law issued
The Revenue Administration has submitted a draft General Communiqué No. 10 on 30th June 2016 regarding Corporate Tax Law (Law No. 5520) to the Prime Minister for publication in the Official Gazette. This draft addresses the changes of General
See MoreTurkey: Guidelines on CIT incentive for capital increase
The Turkish Revenue Administration has published guidelines regarding corporate income tax (CIT) incentive on 30th June 2016 for capital increase. According to that incentive, capital companies may able to deduct 50% of the interest calculated over
See MoreDTA between Somalia and Turkey signed
An Income Tax Treaty between Somalia and Turkey has signed on 3rd June 2016 in
See MoreTurkey: Annual weighted average interest rate for cash capital increase deduction announced
The Revenue Administration has released corporate tax Circular No. 40 on 7th April 2016 regarding the capital increase deduction that specifies that the annual weighted average interest rate is 14.6% for the year 2015. Note that, 50% of the interest
See MoreTurkey: Draft communiqué on transfer pricing documentation, country-by-country reporting
The revenue administration of Turkey has issued a draft communiqué on 16th March 2016 that would introduce new transfer pricing documentation rules that generally follow the base erosion and profit shifting (BEPS) Action 13 recommendations and
See MoreTurkey: R&D reform package enters into force
The Law No. 6676 on the Research and Development (R&D) Reform Package was published in Official Gazette on February 26, 2016 and will be entered into force on March 1, 2016. It enhances the opportunity of R&D incentives under the Income Tax
See MoreTurkey: Communiqué regarding pre-filled online tax returns published
Tax Procedure Law General Communiqué No. 470 that concerns pre-filled online tax returns pertaining to certain types of income has been published in the Official Gazette of February 25, 2016. The Communiqué aims to improve the opportunity of
See MoreTurkey: Clarifications to Corporate Tax Law General Application Communiqué declared
The website of the Revenue Administration published Corporate Tax Communiqué No. 9 (regarding clarifications to the Corporate Tax Law General Application Communiqué of 3 April 2007) on February 11, 2016. This measure has not yet been published in
See MoreTurkey: Personal income tax exemption for young entrepreneurs
Law No. 6663 amending the Individual Income Tax Law (Law No. 193) was published in the Official Gazette on 10th February 2016. The law introduces a new partial tax exemption (Article 1) for young entrepreneurs. Article 1 of the Law entered into
See MoreTurkey: R&D reform package declared
The Prime Minister of Turkey has announced an R&D Reform Package on 14th January 2016 to increase the share of R&D activities in the Turkish economy from 1% to 3%. Moreover, the objectives of the Package are to increase R&D investments,
See MoreTurkey: Entry into force of electronic notification postponed
General Communiqué No. 467 (the Communiqué) on Tax Procedure Law was published in the Official Gazette on December 29, 2015. This amends General Communiqué No. 456 on Tax Procedure Law. In accordance with the provisions of the Communiqué the
See MoreDTA between Gabon and Turkey initialed
Following a successful first round of negotiations held from 1st September to 3rd September 2015, a tax treaty between Gabon and Turkey has been initialed on 3rd September
See MoreItaly and Turkey: Social Security Agreement comes into effect
The Social Security Agreement between Italy and Turkey will come into force on 1st August 2015. The agreement was signed in 2012. According to new provisions in the agreement, employees allotted between Italy and Turkey may stay in their home
See MoreTurkey-United States FATCA agreement signed
The FATCA agreement (2015) between Turkey and United States has been signed on 29th July 2015. Details of the agreement will be reported
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