Taxation of Turkish Companies Corporate taxpayers that are subject to corporate income tax are listed below: • Capital companies • Cooperatives • Public economic enterprises • Economic enterprises owned by associations and foundations • Joint ventures Residents (unlimited tax liability): If legal seat or the place of head office is in TR. Non-residents (limited tax liability): If a non-resident corporate conducts business through a branch (PE) or a joint venture in TR. Corporate tax rate is 22% in Turkey. In addition, dividends paid by resident corporations to shareholders are subject to 15% withholding tax while dividends paid by resident corporations to resident corporations are subject to 0% withholding tax. Likewise, non-resident corporations pay 15% withholding tax when allocating profits to their headquarters. Taxation of Branches In principle, every taxpayer is required to file single tax return, even if he has derived the income through different business places or branches and those places and branches have their own accounting and allocated capital. Activities performed by tradesmen and artisans who do not have permanent establishments are not assumed as commercial and industrial activities, and so they are exempt from income tax.
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