Tax
From The Report: Turkey 2013
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Featuring the viewpoint of Emre Burçkin, Chairman of the Board of OBG partner, Consulta, this chapter contains information about Turkey’s tax system, designed to aid those interested in doing business in the republic.

Articles from this Chapter

Overview

By the books: A look at laws and regulations for both corporations and individuals
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Turkey’s direct taxation system consists of two main taxes: income tax and corporate tax. An individual is subject to income tax on his income and earnings, similar to a company, which is subject to corporate tax on its income and earnings. The rules of taxation for individual income and earnings are provided in Income Tax Law 1960 (ITL), while the rules concerning the taxation of corporations are contained in the Corporation Tax Law 1949 (CTL). Despite the fact that each is governed by a different…

Analysis

Encouraging investment: A new raft of incentives is aimed at improving competitiveness
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The Ministry of Economy has issued a number of new incentives to encourage investment in Turkey, along with plans to roll out even more such initiatives in the coming years. Similarly, the Ministry of Industry has issued a new set of incentives aimed at attracting investors in technology start-ups, as well as plans to create investment incentives for the media sector in a bid to attract more foreign production companies. In fact, the introduction of a new investment incentives programme every few…

Viewpoint

Emre Burçkin, Chairman of the Board, Consulta, on the challenges of regulating the informal economy
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Although the size of Turkey’s unregistered economy has diminished in recent years, it remains a major challenge for the country’s policymakers. To address this issue, the Revenue Administration (RA) has developed a five-point action plan that aims to boost volunteer contributions, improve government auditing capabilities, strengthen the deterrent effect of sanctions, enhance database sharing and increase public knowledge of the issue through awareness campaigns. According to the RA, the unregistered…