Chart of Principal Turkish Taxes

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CHART OF PRINCIPAL TURKISH TAXES Taxes Details Corporate income tax Advance corporate tax Individual/income tax

Increase in net worth Net taxable income

Value Added Tax - VAT General

Sales value

. . Financial leasing services etc. . Basic foodstuff, textile products etc. . Certain agricultural products

Percentage 20% 20% 15-35% (all source of income including employment income) 18% Depends on the VAT of the leased item 8% 1%

Banking & Insurance Transaction Tax General

. . Interbank deposit transactions . Repossessions . Money market transactions between banks and brokers . Sale of Government bonds and T-bills . Sale of foreign currency

5% 1% 1% 1% 1% 0.1%

Stamp Duty

Value specified in the documents

Gift and Inheritance Tax Customs Duties

Value Value

Usually at 0.75% (0.15% for rental contracts, 0.06% for salaries 1-30% Various

Transfer of real estate Special Consumption Tax Petroleum products

Sales Value

1.5%, each buyer and seller

. . Vehicles . Alcoholic beverages & tobacco products . Certain luxury goods Special Communication Tax . Mobile telecommunication services . Radio & Television broadcasting services through satellite or cable . Other telecommunication services Motor Vehicle Tax Major Municipal & Local Taxes: Real estate taxes Buildings

. . Land

Per liter, kilogram, etc. Value and engine size Value, retail sale price for tobacco products Value

Specific 1 to 84% (*) 25% - 275.6% and lump-sum 6.7% - 20%

Service fee 25% 15% 15% Model, engine, weight

Specified amount revised each year

Tax Value 0.1 - 0.4% 0.1 - 0.6%

Entertainment tax Per tariff, gross profit Specific, 0-20% Communication tax Fee 1% Electricity and Gas consumption tax Sales Value 1.5% Environment protection tax Per dwelling and business premises Specified amount revised each year * Only the percentage tax rate is applied provided that it is not less than the tax calculated by using the minimum lump-sum tax amounts. Source: KPMG


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