Turkey -Moldova FTA signed
The Free Trade Agreement (FTA) between Moldova and Turkey has signed on September 11, 2014. Further details will be reported
See MoreTurkey: Amendment in investment incentives regime
A decree entitled “Decree 2014/6588” has published on August 6, 2014 in the Official Gazette which amends Decree 2012/3305 on the investment incentives regime. Decree 2014/6588 entered into force on its publication date. The major requirements
See MoreVietnam-Turkey DTA signed
The Double Taxation Agreement (DTA) between Vietnam and Turkey has signed during four days of meetings concluding on July 9,
See MoreTurkey-Vietnam Income Tax treaty signed
The income tax treaty between Turkey and Vietnam has signed on July 8, 2014 in Ankara. Supplementary details of the treaty will be reported
See MoreTurkey: Consolidation of VAT guidance in single communique
The tax administration in Turkey has previously issued all Value Added Taxes that have been repealed and replaced by a single communique and the new VAT communique is effective from May 1,
See MoreTurkey enlisted as having FATCA in effect
Turkey has reached an intergovernmental agreement (IGA) with the United States to execute the Foreign Account Tax Compliance Act (FATCA), and has agreed to be listed on the website of the US Treasury Department as a jurisdiction that is supported as
See MoreTurkey: Improves VAT compliance procedures
Turkey is to make a number of changes aimed at improving the value added tax (VAT) compliance regime. These changes include the possibility for large taxable persons to receive VAT refunds faster. the VAT legislation is to be consolidated into a
See MoreTurkey: threatens 38% VAT on Twitter ads
Turkey’s Finance Ministry suggests that VAT on domestic advertising should be doubled from 18% to 36%. This would recover some local tax revenues from non-resident social networking sites that otherwise pay little tax in the country. Other
See MoreEuropean law used in Turkish transfer pricing case
Turkey has taken a step towards improving the rights of taxpayers by implementing a decision of the European Court of Human Rights (ECHR) in a transfer pricing ruling. The transfer pricing case involved allegations by the tax administration that a
See MoreTurkish electronic VAT invoices delayed until April 2014
The introduction of Turkish electronic VAT invoices has been delayed until 1 April 2014 due to continuing teething problems. Until this date, tax registered persons may continue to use paper-based VAT invoices. The original edict (Tax Procedural
See MoreDTA between Turkey and Gambia signed
On 11 February 2014, Turkey and Gambia signed a convention for the avoidance of double taxation with respect to taxes on income. No further details of the agreement are currently
See MoreTurkey Raises Consumer Taxes
Turkey intends to increase state revenues by raising indirect taxes, fines and fees. An announcement by the Council of Ministers of Turkey on 1 January 2014 will increase purchase taxes on cars, alcoholic beverages, cigarettes and mobile phones, as
See MoreTurkey: Specific Transfer Pricing Compliance
An annual transfer pricing report must be prepared by the date of the annual tax return. The transfer pricing rules also specify documentation that must be maintained. Listed companies may also be required to submit a report on controlled
See MoreTurkey: Special consumption tax changes for 2014
Turkey’s Council of Ministers have issued Resolution 2013/5761, that revises and/or specifies the special consumption tax (SCT) rates and amounts to be applied effective from 1 January 2014. These revise the SCT rates for vehicles, for beer and
See MoreTurkey deducts VAT rate on e-books
By harmonizing the VAT rate imposed on e-books and traditional, printed books Turkey has become the updated country and it plans to rearrange e-books from the standard VAT rate of 18% to the same reduced rate 8% for books. The Turkish VAT deduct
See MoreTurkey – CIT relief from certain services
A circular provides for the possibility of exempting 50% of the profit provided to non-residents for corporate income tax purposes and earned by Turkish taxpayers from certain types of services. Now, companies who may benefit from the 50% relief
See MoreKenya-Turkey DTA sign in 2014
The Turkish and Kenyan governments are ready to sign an agreement on the avoidance of double taxation in 2014 and when a high level Kenyan government representative visits Turkey following year then it will be signed. Both nations signed an contract
See MoreTurkey-Cameroon DTA negotiations conclude
The tax authority of Turkey has announced that the government has concluded the first-round of negotiations with Cameroon for the conclusion of a double taxation agreement on October 2, 2013. The negotiations were held between 23rd and 27th
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