Home Tax What is the Corporate Tax Ratio of Merged Producing SMEs in Turkey?

What is the Corporate Tax Ratio of Merged Producing SMEs in Turkey?

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1- WHAT IS THE CORPORATE TAX RATIO?
Corporate tax ratio is 20% over company’s income.

2- WHO PAYS ADDITIONAL TAX AND FOR WHAT IS IT PAID?
Corporate taxpayers pay advance tax (limited in limited taxpayers with commercial incomes and incomes from agriculture)
2.1- In order to set off corporate tax of current taxation period
2.2- According to provisions stated in Corporate Tax Law,
2.3- In the ratio of corporate tax of current period.

The provisions applied to legally obligated institutions are also valid for limited taxpayers.

3- WHAT IS THE CORPORATE TAX RATIO OF MERGED PRODUCING SMES?
Council of Ministers has an authority to apply 75% discount for Corporate Tax on;
3.1- The incomes gained exclusively from productive activities in financial period ending at the date of merging and
3.2- Income gained from productive activities including the merging company’s financial period (when the merger takes place) of the small-and medium-scaled enterprises, dealing with containing and virtual productive activities for merging industrial registry certificate within the scope of article 19 of the Corporate Tax Law. Furthermore, it has authority to differentiate this discount ratio separately or together in respect for sectors, business branches, productivity areas, regions and financial periods or for institutions producing medium and high technology products or manufacturer and exporter. Additionally, the Ministry of Finance has an authority to determine rules and procedures related to enforcement of this sub clause.

Source: Corporate Tax Law

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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