On 22 January 2022, Turkey has published Law No. 7351 in the Official Gazette reducing the corporate income tax (CIT) rate by 1% for manufacturing and export activities. The law was entered into force on the same date of its publication.
The 1% reduction of the CIT rate is applicable to income earned from export activities by exporting entities, and income earned from manufacturing activities by industries that hold industry registration certificates.
The reduced rate is applicable for the years 2022 and onward. Accordingly, the CIT rate applies at 22% to income generated by these entities in 2022.
