Temporary Obligations on Export Proceeds in Turkey Turkish Ministry of Finance and Treasury has recently issued a new Communique on the Protection of the Value of Turkish Currency concerning the activities of exporters in Turkey. The Communique was published on the Official Gazette on 4th of September 2018. In general, the newly issued Communique No.…
New Cabinet Decree on Transfer Pricing Article 13 of Corporate Income Tax Law, regulating transfer pricing rules, was amended through the Law No. 6728 on the Improvement of the Investment Environment and in this scope additional authority was given to the Turkish Cabinet to determine transfer pricing procedures. Turkish Revenue Administration (Turkish Tax Authority) prepared…
FX Restrictions on Certain Domestic Transactions Published in the Official Gazette on September 13, Amending Presidential Decree Regarding the Decree on Protection of the Value of the Turkish Currency (“Decree No. 32”) introduced FX restrictions on certain domestic transactions accomplished among Turkish residents. These transactions include sale and purchase of real estate, sale and purchase…
Article 9 the Turkish Value Added Tax (VAT) Law on the “Party Liable for Tax” was amended in 2017. New amendment stipulates that VAT arising from services provided electronically by those without a residence, workplace, headquarters, or business centre in Turkey to individuals in Turkey who are not VAT taxpayers must be declared and paid…