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Turkey Taxation

Turkey Taxation
Brand: Turkey
Category: Tax Jurisdiction

Rating

The overall rating is based on review by third parties and our experts

7.1
  • Global Tax Friendly 3 / 10
  • Inheritance Tax Friendly 10 / 10
  • Easy to Citizenship 10 / 10
  • Financial Secret Score 5 / 10
  • R. Estate Tax Friendly 8 / 10
  • Gift Tax Friendly 10 / 10
  • Anti-Aml Index 4 / 10

For the purposes of CRS reporting, all individuals who reside in Turkey and Turkish citizens affiliated with official departments and establishments or with undertakings and organizations, the business head office of which is situated in Turkey, who reside abroad owing to the work of the said departments, establishments, organizations and undertakings will be considered as tax resident in Turkey. Below indicated persons are considered as resided (and therefore tax resident) in Turkey:

  1. Those whose domicile is in Turkey.
  2. Those who stay in Turkey continuously more than six months in one calendar year (Provisional absence shall not interrupt the continuity of residing in Turkey).

Information

Investment Basis

Currency Türk Lirası
Accounting Principles IFRS
Individual Worldwide Tax Basis Deemed a domiciled resident, or resident having a minimum of 183 stays in a year.
Fast Track Citizenship

Individual Taxation

Starting Taxable Income 18,000
Starting Income Tax Rate 15%
Highest Income Tax Rate 40%
No Individual Capital Gain Tax

Inheritance, Gift, Net Worth, Dividend, Interest Taxation

No Net Worth Tax
No Gift Tax
No Inheritance Tax
Dividend Tax 15%
Interest Tax 0%-15%

Corporate Taxation

Income Tax Rate 22%
Branch Tax Rate 22%
No Capital Gain Tax

Withholding Taxation for Nonresidents

Dividends (Company) 15%
Interest (Company) 0%/15%
Royalties (Company) 20%
Fees for Technical Services (Company) 20%
Dividends (Individual) 15%
Interest (Individual) 0%/15%
Royalties (Individual) 20%
Fees for Technical Services (Individual) 20%

Withholding Taxation for Residents

Dividends (Company) 0%
Interest (Company) 0%
Royalties (Company) 0%
Fees for Technical Services (Company) 0%
Dividends (Individual) 15%
Interest (Individual) 0%
Royalties (Individual) 20%
Fees for Technical Services (Individual) 20%

Real Estate

Transfer Tax 3%
Real Property Tax 0.1%-0.3%

Value Added Tax

Standard Rate 18%
Reduced Rate 0%/1%/8%

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