Turkey Tax Agency Issues Guidance on 2025 Corporate Income Tax Declarations

The Turkish Revenue Administration March 31 issued Publication No. 606, on corporate income tax declarations for tax year 2025. Topics covered include: 1) the April 30 filing deadline for 2025 corporate income tax declarations; 2) the rent deduction of 37,000 Turkish lira (US$832) for 2025, and 46,000 lira (US$1,034) for 2026; 3) five-year loss carryforward, tax refund procedures, and the 5 percent tax reduction for compliant taxpayers, capped at 12 million lira (US$269,751) for corporate income and individual income tax declarations that must be filed from Jan. 1; 4) 2025 and 2026 corporate income tax rates, including the 25 percent ...