In Turkey, the general corporate income tax rate of 20% is applicable from 1 January 2023. The rate was temporarily increased to 25% for 2021 and 23% for 2022.
However, the tax rate is 25% for banks and financial sectors, 19% for companies doing manufacturing and exporting activities, and 18% for the five years period for companies offering at least 20% of their shares on the Istanbul Stock Exchange.
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