Turkey: 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
See MoreDTA between Turkey and Senegal initialed
Following a successful second round of negotiations held from 8th July 2015 to 10th July 2015, a double taxation agreement (DTA) between Turkey and Senegal has been initialed in
See MoreDTA between Mexico and Turkey enters into force
The Double Tax Agreement (DTA) between Turkey and Mexico signed in 2013 will enter into force on 23rd July 2015. Mexico published the text of the agreement on 17th July 20a. The agreement aims to avoid double taxation between the two countries
See MoreTurkey: Corporate income tax and VAT on electronic services by nonresident businesses
The Government is considering proposals which would permit the Turkish Revenue Administration to collect both indirect and direct taxes on the online sales and revenue-generating online activities made by nonresident businesses. The Finance
See MoreTurkey: Unilateral APA updated
The tax administration has announced that it has concluded preparations for conclusion of a unilateral Advance Pricing Agreement (APA) between the tax administration and a taxpayer. According to the 5th paragraph of article 13 of the transfer
See MoreTurkey: Personal Tax Allowances Increased
Law no. 6645 has been published in the official gazette on 23rd April 2015. The law amends the individual income tax law. Article 8 of this law raises the minimum living allowance rate approved for the third child to 10% from 5%. The basic
See MoreTurkey: Draft guidance on APA applications
The Turkish revenue administration released draft guidance in early April 2015 on advance pricing agreements (APAs). The guidance sets out the information that may be requested by the tax authorities in order to review APA applications. In
See MoreTurkey: General Communique on corporate tax exemption released
The General Communique No. 8 regarding Corporate Income Tax has been published in the Official Gazette on 21st April 2015 and it changes General Communique No. 1 on Corporate Income Tax. This also gives information desired for the implementation of
See MoreTurkey: Notional interest deduction as incentive for capital
The Parliament has accepted a law 6639 entitled “notional interest deduction” on 7th April 2015. This new law gives a tax incentive for cash capital contribution increases, effects after 1st July 2015. Excluding those operating in the finance,
See MoreTurkey- Korea (Rep.) Free Trade Agreement Signed
A new Free Trade Agreement (FTA) between Turkey and Korea (Rep.) was signed on 26th February 2015. After the FTA enters into force and becomes effective this new agreement will replace the 2012 agreement that entered into force on 1st May
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