Turkey Tax Agency Posts Brochure on Tax, Insurance Premium Incentive for Young Entrepreneurs

The Turkish Revenue Administration March 5 posted online a brochure on the tax and insurance premium incentive for young entrepreneurs. Topics covered include: 1) an income tax exemption for young entrepreneurs, particularly with respect to commercial, agricultural, or professional activities, for three taxation periods starting from the calendar year in which they commenced their activities; 2) that the exemption amounts for 2024 and 2025 are set at 230,000 Turkish lira (US$6,315) and 330,000 lira (US$9,061), respectively, and will be updated annually; 3) conditions for benefiting from tax and insurance premium incentives; 4) the application of tax incentives in the event ...