Turkey has one of the most competitive corporate tax rates in the OECD region. The Corporate Tax Law No. 5520 that was enacted on June 21, 2006 made some important amendments to the current applications and also included new concepts in the tax legislation.
According to the new Corporate Tax Law in place, Turkish corporate tax legislation had been revised noticeably clearer than before. This clarification aims to make Corporate Tax Code as objective as other international taxation standards. Consequently after that revision Turkish Corporate Tax Code submitted to harmonize with international taxation standards.
Turkish tax regime can be classified under three main headings: