On 25 March 2022, the Turkish Government submitted a draft bill to the Parliament. The bill contains various tax related measures including corporate tax rates, tax exemptions, and incentives. The main measure of the bill are as follows:
- Proposes a 25% corporate tax rate in the financial sector including banks, financial leasing companies, asset management companies, and insurance companies from 2022;
- The earnings of real estate investment funds or partnerships will be exempt from corporate tax.
- Corporate income tax exemption provides for dividends derived by corporations from the specified investment funds;
- Corporate taxpayers who continue to advertise to them despite the decision to ban advertisements will not be considered as expenses in the calculation of the tax base.
