Taxes for Companies in Turkey

Doing business in Turkey requires careful attention to tax matters. Whether you are establishing a company, a branch, or a representative office, understanding your tax obligations is crucial. We provide consultancy services in the following areas: 

– Corporate Tax: The corporate tax rate in Turkey is 23%. Starting in July 2024, multinational companies with annual revenues exceeding €750 million will be subject to a minimum 15% global income tax. 

– Value Added Tax (VAT): The standard VAT rate in Turkey is 18%, though reduced rates apply to certain goods and services. 

– Employee Income Tax: Income tax rates on employee salaries vary between 15% and 40%, depending on annual earnings. For instance, annual incomes up to 32,000 TRY are taxed at 15%, while those exceeding 880,000 TRY are subject to a 40% tax rate. 

– Property Tax: Companies must pay property taxes on real estate and other assets they own. The tax rate depends on the value and purpose of the property. 

– Tax Incentives and Exemptions: The government provides various tax advantages and exemptions to businesses to reduce their tax burden. 

Taxes for Individuals in Turkey

Individuals residing in Turkey also have tax obligations. If you plan to work or live in Turkey, understanding these tax requirements is essential. We offer consultancy services on the following topics: 

– Income Tax: Individual income tax rates range from 15% to 40% based on annual earnings. For example, annual incomes up to 32,000 TRY are taxed at 15%, while those exceeding 880,000 TRY are taxed at 40%. 

– Property Tax: Individuals are required to pay property tax on real estate they own, with rates varying based on the type and value of the property. 

– Inheritance and Gift Tax: Assets received as inheritance or gifts may be subject to taxation, with tax rates depending on the value of the assets and the relationship between the parties involved. 

– Rental Income Tax: Individuals earning rental income from real estate are obligated to pay taxes based on the amount of income earned. 

Why Choose Us? 

– Professional Expertise: Our team has in-depth knowledge of Turkish tax laws and years of experience in the field. 

– Personalized Approach: We provide customized consultancy tailored to your business or personal financial needs. 

– Time and Cost Savings: We help you avoid mistakes that could lead to penalties or additional costs. 

– Up-to-Date Information: We continuously monitor changes in tax legislation and keep our clients informed. 

How Can We Assist You? 

– Tax Consultancy: Helping you fulfill your tax obligations accurately, minimize risks, and avoid penalties. 

– Tax Return Preparation: Assisting individuals and businesses in preparing and filing tax returns. 

– Tax Planning: Developing the most suitable tax strategy for your business or personal finances. 

– Representation Before Tax Authorities: Representing you in dealings with Turkish tax offices when necessary. 

We are here to help you efficiently manage your tax obligations in Turkey. Contact us today for expert tax advice so you can focus on growing your business or managing your personal affairs with peace of mind!