Turkey extends dates for reduced withholding to interest on TRY deposit accounts
On 30 September 2021, the Turkish Revenue Administration has issued Presidential Decision No. 4561 in the Official Gazette extending the dates for reduced withholding rates on interest on deposit accounts entitled in Turkish lira (TRY). The reduced
See MoreTurkey sets 0% withholding tax rate on certain Financial Instruments income
On 4 September 2021, Turkey has published Presidential Decision No. 4454 in the Official Gazette, which sets 0% (reduced from 10%) withholding tax rate on certain venture capital and real estate investment fund earnings. The reduced withholding
See MoreTurkey extends the first installment deadline on the tax amnesty and tax base
On 27 August 2021, Turkey has published Presidential Decision No. 4420 published in the Official Gazette numbered 31581, which extends the application deadline and the first installment deadline under Law No. 7326 regarding the restructuring of the
See MoreTurkey extends temporarily reduced withholding rates
On 30 July 2021, Turkey's Revenue Administration has published Presidential Decision No. 4311 in the Official Gazette extending the temporarily reduced withholding rates for deposit interests and dividends paid in return for participation accounts,
See MoreTurkey extends the effective time of 0% entertainment tax rates
On 13 July 2021, the Turkish Revenue Administration has issued Presidential Decision No. 4273 regarding the entertainment tax rates applied for showing domestic and foreign films. The Decision extends the effective time of 0% entertainment tax
See MoreTurkey amends the decision on government aid in investments
On 28 June 2021, Turkey has published Presidential Decision No. 4191 in the Official Gazette. With Presidential Decision No. 4191, Amendments have been made in the Decision No. 2012/3305 on State Aids in Investments. Important changes were made in
See MoreTurkey ensures effective date of MCAA of CRS and CbC Reports
On 31 May 2021, Turkey has published Decision No. 4025, and Decision No. 4026, which set the effective date of the Multilateral Competent Authority Agreement (MCAA) of Common Reporting Standard (CRS) and Country-by-Country (CbC)
See MoreOECD: Peer review reports on making tax dispute resolution more effective
On 25 May 2021 the OECD released a further batch of eight Stage Two peer review reports in relation to making dispute resolution mechanisms more effective under BEPS Action 14. The minimum standard under BEPS action 14 is concerned with
See MoreTurkey extends income and corporate provisional tax returns
On 3 May 2021, the Turkish Revenue Administration has issued Circular No. 134, which extends the submission and payment periods of the Income and Corporate Provisional Tax Returns for 2021. According to the announcement, the Provisional Tax
See MoreTurkey increases CIT rate for the tax year 2021 and 2022
On 22 April 2021, Turkey has announced that the Draft Law has entered into force which was submitted to the Turkish Parliament regarding an increase in corporate income tax (CIT) rate for the tax years 2021 and 2022. Through the Law, the
See MoreTurkey intends increase in CIT rate for the tax year 2021 and 2022
On 2 April 2021, the Turkish Government submitted a Draft Law to the Turkish Parliament. Through the Draft Law, Turkey intends to increase the corporate income tax (CIT) rate for the tax years 2021 and 2022. The proposed tax rate is 25% for 2021
See MoreTurkey further extends CbC report filing deadline
On 22 February 2021, the Turkish Revenue Administration has issued Circular TF-3/2021-1 by which Turkey extends Country-by-Country (CbC) report filing deadline. Previously, Turkey extends CbC report filing deadline to 26 February 2021. The new
See MoreTurkey amends R&D and technology development zone regulations
On 3 February 2021, Turkey has published Law No. 7263 in the Official Gazette on an amendment to the Law on Technology Development Zones and some other Laws. The Law is effective from the day of its publication. The main amendments of the Law are
See MoreTurkey issues Decree as to restriction on the deduction of financial expenses
On 3 February 2021, the Turkish Revenue Administration has published Presidential Decree No. 3490 in the Official Gazette introducing a restriction on the deduction of financial expenses. Restriction on the deduction of financial expenses rules was
See MoreTurkey extends CbC report filing deadline to 26 February 2021
On 17 December 2020, the Turkish Revenue Administration has issued Circular No. TF-2 / 2020-1 on its website, by which Turkey extends country-by-country (CbC) report filing deadline to 26 February 2021. The extension of the period for sending
See MoreTurkey: Parliament passes Law on certain tax amendments for 2021
On 11 November 2020, the Turkish Parliament approved Law No. 7256 on “Restructuring Public Receivables and Amending Certain Laws”, which was published on 17 November 2020 in the Official Gazette. With the aforementioned Law, finalized public
See MoreTurkey: Government submits bill to parliament for the corporate tax cut
On 16 October 2020, The Turkish Government has submitted a bill to reduce the Corporate Income Tax (CIT) rate to lower the corporate tax by up to 5%. As from 1 January 2018, the corporate income tax rate for all companies is 22% (applicable for
See MoreTurkey ratifies MCAA for the exchange of CbCR
On 1 October 2020, Turkish has published Decision No. 3038 for the ratification of the Multilateral Competent Authority Agreement (MCAA) for the exchange of Country-by-Country reports (CbCR). The Decision was published in the Official
See More