Turkey Tax Agency Issues Guidance on Domestic Minimum Corporate Tax

The Turkish Revenue Administration April 2 issued Publication No. 607, on the guidance regarding domestic minimum corporate tax. Topics covered include: 1) the scope of taxpayers, including resident and nonresident corporate income taxpayers required or opting to file a return in Turkey; 2) the introduction of a 10 percent minimum corporate tax calculated on corporate income before deductions and exemptions; 3) exempted taxpayers, including fully exempt entities, newly established companies during their first three accounting periods, and taxpayers subject to revenue-based taxation; 4) the application period, beginning with 2025 profits and including temporary tax periods; 5) the interaction with tax ...