Turkey published Law No. 7394 in the Official Gazette on 15 April 2022. Among other things, the Law provides for an increase in the corporate tax rate to 25% on financial sector companies, including banks, financial leasing companies, asset management firms, and insurance companies. Turkey’s standard corporate tax rate is 20% but was temporarily increased to 25% in 2021 and 23% in 2022. As provided by Law No. 7394, the 25% tax rate for financial sector companies applies for the 2022 tax period and applies for tax returns that must be submitted as of 1 July 2022.
Source Orbitax
Latest Posts in "Turkey"
- Important Notice on Transition to New e-Declaration System for VAT Returns
- Turkey’s 2026 E-Invoicing and E-Ledger Threshold Changes
- VAT Refunds for Non-Resident Companies in Turkey
- Turkey’s E-Invoicing Thresholds and Mandatory e-Arşiv Rules
- Turkey Clarifies Tax Treatment for Paid Subscription Income on Social Media
