Corporate income tax rate has been increased

Yayınlanma Tarihi: 22 Nisan 2021

The Law Nr. 7316 on Amendment of Law on Collection Procedure of Public Receivables and Other Certain Laws has been published in the Official Gazette numbered 31462 and dated 22.04.2021. The law also covers amentments in Corporate Income Tax Law. Based on mentioned regulations,

  • Corporate income tax rate has been raised to 25% for the year 2021 and 23% for the year 2022. Before the amendment, the corporate income tax rate had been applied as 20%.

  • The new rates shall be applicable to the earnings for the taxation periods starting as of January 1, 2021. For entities having special accounting periods (other than calendar year), the new rates shall be applicable for the periods starting in the relevant year.

  • The new rate shall be effective for advance corporate income tax declarations that must be submitted as of July 1, 2021.

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