We are approaching the final days for the submission of the 2024 Corporate Tax Return for taxpayers who are subject to corporate tax, as economic activities are carried out by capital companies (limited liability companies, joint-stock companies, and limited partnerships with shares), cooperatives, economic public institutions, associations, or foundations that own economic enterprises or joint ventures.
The Ministry of Treasury and Finance, using the authority granted to it by the Tax Procedure Law, decided that inflation adjustments will not be applied in provisional tax periods in 2025.
Expat is a term generally used to describe white-collar foreign workers. In recent years, there has been a significant increase in the number of individuals working outside their home country. This increase, as a reflection of global labour mobility, has caused tax and social security practices to become more complex in the case of expatriates.
Today, the crime of money laundering is becoming more widespread and complex due to technological developments. This has made it imperative for supervisors to come up with effective solutions to combat money laundering on an international scale.
The “FATF Travel Rule” is an update of FATF’s Recommendation 16. FATF‘s Recommendation 16, aims to prevent the laundering of proceeds of crime and the financing of terrorism by ensuring accurate and complete sender and recipient information in electronic transfers and this recommendation implemented in three cases:
We can define financial crimes as criminal activities based on the misuse or abuse of financial systems. With the development of technology, financial crimes have become a major problem in the global world and the revenues obtained from these crimes correspond to a very large proportion of the global GDP.
The Revenue Administration of the Ministry of Treasury and Finance, with the General Communiqué of the Tax Procedure Law No. 563, decided that taxpayers whose gross sales are below 50 million liras as of 31 December 2023 will not make inflation adjustments as of provisional tax terms.
According to the statements made by the Minister of Treasury and Finance Mehmet Şimşek, the Global Minimum Corporate Tax will be among the tax regulations that will soon be submitted to the Grand National Assembly of Türkiye.
In recent years, there has been an important agenda in Türkiye: To ensure that Türkiye becomes one of the preferred countries for health tourism.
Turkish Tax News is a non-profit and independent policy research platform that is affiliation of Yeni Ekonomi Danışmanlık A.Ş. (New e-conomy Consultancy).
Every and each piece of content displayed on this very Platform is gathered via voluntary contribution of its participators.
The purpose of this Platform is to inform public and private practitioners, academics, and economic entities around the globe with respect to taxation-related developments unfolding in Turkey and to advise them on the wide-ranging implications of these developments.
As a community seeking to generate brand new information on the current and past regulatory frameworks in the context of mounting needs expressed by different segments of the society in a comparative way, Turkish Tax News is dedicated to maximize public interest by sharing with the wider society its know-how accumulated through the valuable experiences of its participators who have served long years either in public administration or private sector.