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08August2017

REPUBLIC OF TURKEY AND THE GOVERNMENT OF GUERNSEY HAVE REACHED TO A CONSENSUS ON THE EXCHANGE OF INFORMATION ON TAX ISSUES

The following decision has been announced on the official gazette dated August 2, 2017.

  • Within the enforcement of the Agreement, all tax and tax audit related matters and information requested from the Turkish officers can and will be requested and obtained from the authorities of Guernsey. Mutual requests related to Turkey will also be met by the Turkish authorized officers.
  • The agreed consensus aims to lead a transparent information exchange between the two countries on the criminal and legal tax matters. This new regulation has been an important step taken in order to prevent future tax losses and fugitives.

Written by Selma Kıy, Posted in Bilateral Treaties

03August2017

GOVERNMENT INCENTIVE CERTIFICATE TERMS HAVE BEEN REVISED

Communique on the Implementation of the Decision on Government Supports in Investments has been amended on July 26, 2017. Herein below are some issues which are to be considered; concerning the amendment to the communique, which entered into force following its publication in the Official Gazette:

Written by Mükremin Akbulut, Selma Kıy, Posted in Taxation Law

11July2017

MOTOR VEHICLE TAX PAYMENT

Vehicle owners are obliged to pay the Motor Vehicle Tax (MTV) each year. The tax can be paid in two installments yearly upon request. In additional to the land vehicles, airplanes, helicopters, choppers and motor vessels are liable to the MTV tax.

Written by Selma Kıy, Posted in Taxation Law

05July2017

INCOME TAX EXEMPTED SEVERANCE PAY

According to the circular numbered 27998389-010-06-02-5820 released by the General Directorate of Budget and Fiscal Control on 07.01.2017 with the subject ‘Financial and Social Rights’, the coefficients used to calculate the wage of a civil servant have been revised effective as of 01.07.2017.

a. Income Tax Exempted Severance Pay

The following values have been calculated taking these coefficients into account, and shall be applied for the period between the dates of 01.07.2017 – 31.12.2017 maximum severance pay to be exempted from income tax is 4.732,48.- TL,

Written by Fırat Oktürk, Posted in Taxation Law, Labour Law

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