Vat Refund For Tourists in Turkey
If you are a foreign visitor exploring Türkiye’s vibrant cities, rich history, or unique shopping experiences, you may benefit from the VAT refund for tourists in Turkey. VAT (Value Added Tax) is applied to most goods and services, but under certain conditions, foreign tourists can claim a refund on eligible purchases made during their stay. […]
Transfer Pricing in Turkey
Transfer Pricing in Turkey is a crucial element of international taxation and compliance, particularly for multinational companies and corporate groups operating across borders. It refers to the pricing of goods, services, and intangible assets exchanged between related parties within the same group of companies. Turkish transfer pricing rules follow OECD guidelines and aim to ensure […]
Tax Types in Turkey (Updated 2024 Rates)
Understanding the different tax types in Turkey is essential for individuals and businesses operating in the country. Turkey’s tax system includes a wide range of direct and indirect taxes, each with specific rates and application criteria. This guide provides a comprehensive overview of the main tax types applicable in 2024. Corporate Income Tax The corporate […]
Free Zones Investment Incentives in Turkey
Turkey is taking bold steps to transform its economic structure and attract export-oriented capital. A central pillar of this strategy is its Free Zones, which serve as investment magnets for global businesses. With 19 strategically located zones that provide direct access to European, Asian, and Middle Eastern markets, Free Zones Investment Incentives in Turkey play […]
Transfer Pricing in Turkey: Navigating Compliance in a Global Economy
In light of recent economic pressures and increasing global scrutiny, Transfer Pricing in Turkey has become a central focus for both regulators and multinational companies. The Turkish Ministry of Finance, under the leadership of Mr. Mehmet Şimşek, recently signaled a significant intensification of tax inspections targeting international tax evasion. This initiative is a clear call […]
Important Updates for Employing Foreign Workers in Your Company in Turkey
Turkey has introduced new regulations concerning the employment of foreign workers, impacting companies hiring foreign nationals. These updates emphasize work permit applications, capital requirements, employment conditions, and salary standards. The following updates are particularly important for employing foreign workers in your company in Turkey. 1️⃣ Capital Requirement for Companies Employing Foreign Workers As of October […]
Annual Income Tax Return in Turkey for Employees (2024)
Introduction According to the Turkish Income Tax Law, salary income includes monetary payments, in-kind benefits, and other compensations that can be expressed in monetary terms, provided in return for services rendered by employees who are subject to an employer and tied to a specific workplace. Below are the updated thresholds and requirements for filing an […]
Tax Rates in Turkey: A Complete Guide for Businesses and Individuals
Turkey’s tax system is governed by various laws and secondary regulations, primarily under the Income Tax Law, Corporate Tax Law, Value Added Tax Law, and related legislation. Understanding the tax rates in Turkey is essential for foreign investors, companies, and expatriates operating within the country. This article provides a structured overview of Turkey’s corporate tax, […]
Outsource Accounting vs. In-House Accounting in Turkey: Which is the Best Option?
For businesses operating in Turkey, managing financial processes effectively is crucial for sustainability and growth. Companies must comply with Turkish tax regulations, financial reporting standards, and payroll obligations. While some businesses prefer an in-house accounting team, many are now opting for outsourced accounting services in Turkey due to cost-effectiveness, compliance benefits, and operational efficiency. This […]
Thin Capitalization in Turkey
Introduction to Thin Capitalization in Turkey Thin Capitalization in Turkey is a critical concept in corporate taxation, referring to excessive debt financing used by companies to minimize taxable income. In Turkey, thin capitalization rules are regulated under the Corporate Tax Law No. 5520, Article 12, which aims to prevent tax avoidance strategies involving interest deductions […]
