Turkey Tax Agency Seeks Comments on Draft General Communique to Implement Domestic, Global Minimum Tax

The Turkish Revenue Administration Oct. 3 opened a consultation on a draft general communique to implement the domestic and global minimum supplementary corporate tax (ATV) in accordance with OECD Pillar Two. The draft includes measures to: 1) impose a 15 percent minimum effective tax rate (ETR) on multinational enterprise (MNE) groups with consolidated annual revenues of 750 million euros (US$874.5 million) or more in at least two of the previous four accounting years; 2) provide a de minimis exemption to the domestic ATV for MNEs with country-based annual revenue below 10 million euros (US$11.6 million) in Turkey, and country-based earnings ...