Increase the corporate tax rate

According to the proposed stock market law submitted by the AKP to Turkey’s Grand National Assembly, the corporate tax rate is expected to increase from 20 to 25 percent.

According to the proposal, the corporate tax for financial leasing, factoring, electronic payment companies, capital market institutions and insurance companies is also increased from 25 to 30 percent.

After the proposal was made public, the BIST 100 index declined in Borsa Istanbul.

DISCOUNT ON THE TAX RECEIVED FROM THE EXPORTER

In order to encourage exports with the proposal, the corporate tax rate deducted from the income obtained from exports will be applied with a discount of 5 points. (The previous one had 1 discount point)

The following statements were included in the corporate tax portion of the bag invoice:

“The sentence 20 percent of the first paragraph of article 32 of Law No. 5520 is changed to 25 percent, the sentence 25 percent to 30 percent, the sentence 1 point of the seventh paragraph to 5 points, and then the sentence ‘ in accordance with the second sentence of the eighth paragraph’ to those who benefit from the discount. The phrase ‘within the scope of this paragraph’ has been added.”