The earthquake tax reached the companies

All corporate taxpayers, whose number is estimated to be around 22,000, will pay the additional tax, except for 11 earthquake-damaged companies and registered companies.

Additional tax exemption areas; exemption from participation profits, exemption from profits from portfolio management of mutual funds and companies, exemption from share premium, exemption from income from sales of participations and real estate, income obtained from abroad and that meet certain conditions, exemption from area income free trade and technological development zone.

ADDITIONAL TAX WILL BE CALCULATED

Apart from these, additional taxes will be calculated on discounts such as investment discount, R&D discount, capital cash discount. In addition, no additional tax will be charged on the base subject to the reduced corporation tax.

The additional tax will be charged only to companies, Income Taxpayers will not pay any additional tax. Therefore, the earthquake tax will not be collected from those who earn income such as wages, rent, and real estate.

USEFUL EMPLOYER INCENTIVE

With another proposal adopted, aid in kind and in cash not exceeding 50,000 lire by employers until the end of July will not be included in earnings subject to premium and stamp duty will not be collected.

The taxes collected by application of the preceding rental value will not be collected from landlords who allocate their homes to the victims of the earthquake free of charge. Income tax will not be collected on individual withdrawals and similar payments from the heirs of earthquake victims who lost their lives in or after the earthquake. Inheritance and Gift Tax will not be applied to these people.

Taxes, contributions and interest on accounts receivable related to buildings destroyed or severely damaged by the earthquake and vehicles rendered unusable will be eliminated, and tax liens on them will be eliminated.