Turkey: Turkish Petroleum Law regarding Taxation, Import, Export and Transfers
The Turkish Petroleum Law came into force on 11 June 2013. This Law introduced a revolution in the Turkish oil and gas industry as it levelled the playing field for foreign investors and removed the privileged rights of the State oil company. As
See MoreTurkey: free trade zones are not required to calculate VAT
The tax court of Turkey settles that entities functioning in free trade zones are not required to calculate value added tax (VAT) using a reverse-charge basis with respect to services provided by resident and non-resident companies who are subject
See MoreTurkey-Iraq Income and Capital Tax Treaty has authorized and signed by Iraq
The Iraqi Council of Ministers has certified the Finance Ministry to negotiate and sign an Income and Capital Tax Treaty with Turkey on 13th November 2014. Details information regarding this treaty will be reported
See MoreQatar and Turkey- new income tax treaty
Negotiation of a new income tax treaty is on the way, between Qatar and Turkey. The treaty of December 25, 2001 between these two countries will be replaced by this new agreement. Before, it can enter in to force; the new treaty must be signed and
See MoreTurkey: Provisions in tax amnesty
The Turkish Parliament has passed a tax amnesty program as Law No. 6552 that was released on September 11, 2014. Generally, this program under the new law permits taxpayers with unpaid tax debts and associated penalties and interest to give these
See MoreTurkey: Omnibus Law enters into force
The Law No. 6552 (the "Omnibus Law") has published in the Official Gazette on September 11, 2014. The law permits granting a 50% decrease on penalties derived from infractions of process and will apply to unpaid fiscal debts and penalties that were
See MoreTurkey -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
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