Concise tax guide for Turkey 2009

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ContentsI. Individual taxation .................................................................................4A. Income tax .............................................................................................51. Tax rates.................................................................................................52. Who Is liable..........................................................................................63. Income subject to tax .........................................................................74. Taxation of employer-provided stock options............................105. Deductions ............................................................................................116. Tax credits on salary/wage ..............................................................117. Relief for losses ..................................................................................12B. Filing and payment procedures ........................................................12C. Tax relief on foreign income ..............................................................13D. Social security......................................................................................13II. Corporate taxation..............................................................................15A. Corporate income tax.........................................................................161. Tax rates................................................................................................162. Participation exemption...................................................................183. Turkish international holding companies.....................................194. Capital gains........................................................................................195. Administration...................................................................................206. Dividends ............................................................................................207. Foreign tax relief...............................................................................20B. Determination of trading income ....................................................221. General..................................................................................................222. Provisions............................................................................................233. Tax depreciation................................................................................234. Investment allowance......................................................................245. Research and development (R&D) expenditures......................246. Relief for losses.................................................................................24C. Miscellaneous matters ......................................................................251. Foreign-exchange controls..............................................................252. Transfer pricing.................................................................................253. Debt-to-equity rules (thin capitalization)....................................264. Controlled foreign companies (CFCs)..........................................265. Anti-avoidance measures ...............................................................266. Mergers and acquisitions ................................................................277. Other incentives on R&D activities ...............................................27
III. Other taxes.........................................................................................28III.i. Taxes on expenditure......................................................................30A. Value added tax (VAT).......................................................................301. General .................................................................................................302. VAT rates ............................................................................................303. Exemptions ..........................................................................................314. VAT assessment base......................................................................325. Non-deductible VAT .........................................................................326. Reverse charge VAT.........................................................................32B. Banking and insurance transaction tax (BITT).............................33C. Special consumption tax (SCT) .......................................................33D. Stamp tax.............................................................................................34E. Special communication tax ..............................................................35F. Tax on customs....................................................................................35III.ii. Taxes on wealth ..............................................................................36A. Inheritance and gift tax ....................................................................36B. Motor vehicle tax................................................................................36C. Real Estate tax....................................................................................36III.iii. Other taxes, charges and duties.................................................37A. Municipal taxes ...................................................................................37B. Duties....................................................................................................37Appendices...............................................................................................38Appendix 1: Taxability of income items ..............................................38Appendix 2: Sample individual income tax calculation ...................39Appendix 3: WHT rates applicable under double tax treaties .......40
Page 1: 6Concise taxguide forTurkey 2009
Page 6 and 7: I. Individual taxation4
Page 8 and 9: Major individual income and gains w
Page 10 and 11: Salary and Wage Income. Salary and
Page 12 and 13: Capital gains derived by resident i
Page 14 and 15: Please find below sample minimum li
Page 16 and 17: Employees who are subject to social
Page 18 and 19: A. Corporate income taxCompanies wh
Page 20 and 21: 2. Participation exemption(a) Divid
Page 22 and 23: exemption on the condition that the
Page 24 and 25: B. Determination of trading income1
Page 26 and 27: 4. Investment allowanceEffective fr
Page 28 and 29: 3. Debt-to-equity rules (thin capit
Page 30: III. Other taxes28
Page 33 and 34: 3. ExemptionsSome deliveries which
Page 35 and 36: B. Banking and insurance transactio
Page 37 and 38: If another document is referred on
Page 39 and 40: III.iii. Other taxes, charges and d
Page 41 and 42: Appendix 2: Sample individual incom
Page 43 and 44: Dividends Interest Royalties% % %In
Page 45 and 46: (a) The 5% rate applies if the reci
Page 47 and 48: ‹stanbul Head OfficeBüyükdere C

Concise tax guide for Turkey 2009

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