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Taxation in Turkey
 
 
 

Business Taxation

The federal tax system is based on five main taxes: income, payroll, export and import, value-added and financial transactions. The provinces and the city of Buenos Aires also apply property and sales taxes.

Turkey’s tax collector is the Federal Administration of Public Revenue.

Taxable Income and Rates

The corporate income tax rate is 35%.

Limited partnerships, private companies and active partners of limited partnerships are assessable for income tax at the same rate as corporations.

A wholly foreign-owned company with taxable income of Ps500,000, which distributes all of its profits, would be taxed as follows:

Corporate Taxes in Turkey, 2006
Taxable income Ps500,000
Corporate tax (35%) 175,000
Net distributable income 325,000
Legal reserve (5%) 16,250
Net dividend 308,750
Total taxes 175,000
Tax burden as a % of taxable income 35%

Source: National Tax Directorate.


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