Turkey Hikes Corporation Tax to 25 Percent

Turkey Plans to Raise Corporate Income Tax

Recent Development

According to draft communique Turkey plans to raise corporate income tax rate to 25 percent from 22 percent for 2021 corporate revenues

What the Draft Law says ?

In Turkey, the corporate income tax rate levied on business profits is 22%. With the proposal of the Law; corporate income tax increase will be applied to 2021 and 2022 revenues.

Corporate tax; which is currently 22 percent, will be increased to 25 percent in 2021 and will be reduced to 23 percent in 2022.