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Turkish Tax Guide 2014

TURKISH TAX SYSTEM

 

IN GENERAL

The Turkish tax regime is an important part of the economy and can be divided into three main categories:

  • Income Taxes, such as Income Tax Individuals and Income Tax on Corporates
  • Taxes on Expenditure, such as Value Added Tax or Banking and Insurance Transaction Tax or Stamp Tax
  • Taxes on Wealth, such as Property Tax or Inheritance and Gift Tax

A.  INCOME TAX

1.     Income Tax on Individuals

An individual is subject to the income tax on his/her income and earnings. The rules of taxation for individual income and earnings are provided in the Income Tax Law 1960 (ITL).

 

Taxable Income

Turkey has a unitary tax system under which income derived from different sources is

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