Tax
From The Report: Turkey 2015
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This chapter examines the tax environment in Turkey, looking at a pending new income tax as well as how the tax law deals with corporations. It also includes an analysis on the various ways that Turkey’s investment climate could be improved in the context of taxation.

Articles from this Chapter

Overview

Clarifications coming: A new income tax act is in the making
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Tax systems have a high level of impact on economic development. One of the topics criticised in Turkey is the failure to use tax to serve development to the desired level. Therefore, the authorities need to be aware of how tax policies can be used as an effective tool in rapid, fair and balanced development attempts, and introduce the necessary regulations to that effect. Laws in the Turkish taxation system can be complex, and may cause conflicts between the fiscal administration and taxpayer.…

Analysis

Drawing down duties: A look at how tax law deals with corporations
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At present there is no definitive definition for corporations under the law and there are no defined criteria. However, it is possible to draw some conclusions making use of applicable provisions from the Turkish Commercial Code No. 6102 and various other regulations as outlined below. Commercial Code As stated in Section 40 of the Commercial Code, the location of the company headquarters can determine whether a business is considered to be local or foreign. Under Section 40 of the Commercial Code,…

Analysis

Attracting attention: Recommendations for improving the investment climate
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Countries around the world have been making significant attempts to further direct foreign capital investment. In a globalised economy, the degree of foreign investment that a country attracts can have a significant multiplier effect, contributing to technological advances, employment opportunities and the ability to invest more in welfare. Keeping the state’s taxation system up to date as economies become more integrated on the global stage is especially important for emerging markets such as…