Turkey: R&D reform package enters into force

26 February, 2016

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

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Turkey: Communiqué regarding pre-filled online tax returns published

25 February, 2016

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

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Turkey: Clarifications to Corporate Tax Law General Application Communiqué declared

12 February, 2016

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

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Turkey: Personal income tax exemption for young entrepreneurs

11 February, 2016

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

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Turkey: R&D reform package declared

18 January, 2016

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,

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Turkey: Entry into force of electronic notification postponed

04 January, 2016

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

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DTA between Gabon and Turkey initialed

18 September, 2015

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

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Italy and Turkey: Social Security Agreement comes into effect

31 July, 2015

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

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Turkey-United States FATCA agreement signed

31 July, 2015

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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DTA between Turkey and Senegal initialed

23 July, 2015

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

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DTA between Mexico and Turkey enters into force

22 July, 2015

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

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Turkey: Corporate income tax and VAT on electronic services by nonresident businesses

14 July, 2015

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

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Turkey: Unilateral APA updated

26 May, 2015

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

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Turkey: Personal Tax Allowances Increased

04 May, 2015

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

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Turkey: Draft guidance on APA applications

29 April, 2015

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

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Turkey: General Communique on corporate tax exemption released

23 April, 2015

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

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Turkey: Notional interest deduction as incentive for capital

14 April, 2015

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,

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Turkey- Korea (Rep.) Free Trade Agreement Signed

27 February, 2015

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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