24 March 2019
New Tax Rates on Interest Payment to Abroad by by Turkish Resident Companies
Withholding tax rate on interest from bond issued by Turkish resident companies in abroad has been changed.
Articles
20 March 2019
Turkey has introduced tax on plastic bag
Countries like Germany, Ireland, Denmark, England, applies tax on plastic bag. Some other countries like China, Italy, Bangladesh, Brazil, South Africa totally ban plastic bag. Turkey has joined the countries that imposed tax on plastic bag.
24 February 2019
Central Government Budget Revenue and Tax Refund Results of January 2019
Budget result of the first month of 2019 has been published by Ministry of Treasury and Finance. For the first month central budget result indicates 5 Billion TL surplus. Budget balance for same month of previous year was 1,7 billion TL plus. Performance of revenue and tax refund side of the budged detailed as follows.
09 January 2019
Problematic Interpretation of the Provision of Tax Treaties Regarding Dividend Taxation in Turkey
Turkish tax authority has started not to apply provision of tax treaties to dividend derived by non-resident from shares of Turkish resident listed companies.
09 January 2019
Turkey Has Introduced Withholding on Payments for Internet Commercials
Presidency of Republic of Turkey has issued a new decree regarding taxation of payment made by Turkish resident to non-resident for internet commercial services.
11 January 2018
Le Nouveau Salaire Minimum En Turquie
Le salaire minimum en Turquie passe de 1404 lires turques par mois à 1603 lires par mois à partir de 2018, après accord avec les parties prenantes", a déclaré le Ministère de l'Emploi et de la Sécurité Sociale Jülide Sarıeroğlu lors d'une conférence de presse. Le nouveau salaire minimum brut, avant les déductions comme les primes de sécurité sociale et les impôts sur le revenu, est de 2 029 lires.
13 August 2017
Do Corporate Social Responsibility and Its Reporting Practices Boost Financial Performance?
Capitalism aims to achieve maximum profit by ignoring the environment and society. Lately, this has resulted in many social and environmental scandals, destroying the public’s confidence in companies and markets.
17 May 2017
The Usefulness of Traditional Budgeting in Today’s Business Environment
Technology and the rapidly changing conditions of the modern world force companies to review their management and budget systems. In order to maintain a sustainable company, company management must optimize available financial resources via controlling and planning.
04 May 2017
Mediation Center opens in Istanbul at Anatolia Courthouse
A mediation center has opened at the Anatolia Courthouse located in the Kartal district of Istanbul in order to resolve legal conflicts between individuals before they go to court. Within the installation of the mediation system, conflicts between individuals will be resolved quickly because there will be no trial process.
15 March 2017
Termination of employment contract requires specific criteria under Turkish Law
According to the Turkish Labor Law employers and employees are required to give specified notification periods prior to the termination of an employment contract, as shown in the following table.
07 March 2017
VAT Exemption on sales of property in Turkey
Turkish Government is planning to introduce exemption from value added tax on the property that has been sold to non-resident individuals and corporations. Standard VAT rate is 18% in Turkey. There are certain conditions for the exemptions.
02 February 2017
New type of work permits in Turkey: Turquoise Card and International Labour Law
The Law on International Labor Force which came into force on August 13, contains important changes for work permits system in Turkey for foreigners. The new law regulates foreigners’ entry into the Turkish labor market in a more extensive and disciplined way. Although there is no significant change in terms of work permit/visa procedures, some flexibilities for specific categories of professions are introduced in different sections of the new law.
26 January 2017
Project Based Incentives for the investments in Turkey
Turkey’s Parliament has enacted a Law on Supporting Project Based Investments. The Law has been published in the Official Gazette. The Law has authorized the Council of Ministers to grant incentives for project-based investments. A decision from Council of Ministers regarding project based investments has been published in the Official Gazette. The decision has clarified the principles and procedures regarding project-based incentives.
13 December 2016
Turkish & Dutch Participation Exemption Regimes For Domestic Subsidiaries on Capital Gains
Turkish Participation Exemption For Domestic Subsidiaries, Dutch Participation Exemption For Domestic Subsidiaries
01 December 2016
COMCEC Ministerial Session convened with a focus on Islamic finance
The 32nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation (COMCEC), an intergovernmental body affiliated with the Organization of Islamic Cooperation (OIC) was held at Istanbul Congress Center from November 21 to 24, 2016 under the auspices of the President of the Republic of Turkey with the attendance of 57 member and 5 observer government delegations.
22 November 2016
All obstacles before Islamic finance to be lifted
Stating that the overall market value of companies registered with Istanbul Stock Exchange totals approximately 600 billion liras, Deputy Prime Minister Nurettin Canikli revealed the Government plans to lift current administrative and economic obstacles before Islamic finance to further deepened Turkish financial markets by attracting a bigger proportion of international funds that seek a stable and secure place.
22 November 2016
‘New generation’ Trade Agreement with EU on the horizon
Upon the question regarding the ongoing negotiations between USA and European Union with respect to Transatlantic Trade and Investment Partnership (TTIP) and its possible ramifications for Turkey; Deputy Prime Minister Mehmet Şimşek contended that the ultimate finalization of the aforementioned treaty might be delayed due to European Elections slated for the next year. On the other hand, by pointing out that they have already launched the procedures to further Customs Union and ultimately ink a ‘new generation trade agreement’, Şimşek declared that the negotiations between Turkey and EU in this regard will start by 2017.
22 November 2016
‘Private’ invitation for Gulf investors
‘2. TOBB-Gulf Cooperation Council Business and Investment Forum’ was jointly carried out by The Union of Chambers and Commodity Exchanges of Turkey and Federation of Chambers of the Gulf Cooperation Council in the Bahraini capital city of Manama.