Tax Procedure Law (TPC) circular VUK-145/2022-8 has been published on 05.09.2022. The circular provides further details about “ultimate beneficial owner” which was defined in the TPC Communiqué No:529

8 Eylül 2022

As stated in the previous Communiqué, ultimate beneficial owner must be a real person.

Law 7417 dated 01.07.2022 amended the subarticle ı) of Article 10 of Corporate Income Tax (CIT) Law

6 Temmuz 2022

In 2015, the subarticle ı) was added to article 10. This subarticle allows the taxpayers to deduct certain portion of the cash/liquidity infusion to the company’s paid-in equity structure from the CIT base.

Bank and insurance transactions tax (BITT) rate for consumer loans is increased from 5% to 10% with the Presidential Decree no: 5729

15 Haziran 2022

With the Presidential Decree no: 5729 dated 11.06.2022, subparagraph (ğ) is added to the Decree annexed

Deadline for Repatriation of Capital is June 30, 2022

2 Haziran 2022

Presidential Decree no: 5058 published in the Official Gazette dated 31.12.2021, had extended the deadline determined in Temporary Article no:93 of Personal Income Tax (PIT)

Special consumption tax (SCT) rates applied to cellular phones have been redetermined by the Presidential Decision No. 5431

22 Nisan 2022

With the Presidential Decision No. 5431 published in the Official Gazette dated 19.04.2022, the tax rates for the cellular phones included in the list (IV) attached to the Special Consumption Tax Law No. 4760 were re-determined.