May 2024

The recent General Communiqué on the Tax Procedure Law (Row No: 560), effective as of April 30, 2024, announced that inflation adjustments in Turkey will not apply to the first provisional corporate income tax period of 2024. This critical legislative update, linked to the ongoing economic conditions, aims to simplify the financial landscape by temporarily […]

In a move to support businesses facing challenges due to the state of force majeure, the government in Turkey has announced an extension for the submission of the Annual Operating Statement for the 2023 period. This extension applies to industrial enterprises operating in specific provinces and districts, including Adıyaman, Hatay, Kahramanmaraş, Malatya, İslahiye, and Nurdağı

The government in Turkey recently introduced significant changes to its Value Added Tax (VAT) regulations through the Communiqué on Amendments to the Value Added Tax General Application Communiqué (Serial No: 51). Published in the Official Gazette No. 32529 on April 27, 2024, these amendments are aimed at enhancing tax efficiency, fostering compliance, and creating a