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Transfer Pricing
With the new Turkish Corporate Income Tax Law, considerable amendments are made to transfer pricing regulations by taking OECD transfer pricing guideline as a basis. If a taxpayer enters into transactions regarding sale or purchase of goods and services with related parties, where the prices are not set in accordance with arm’s length principle, then related profits are considered to be distributed in a disguised manner through transfer pricing.
Amendmends With Regard To Full And Limited Liable Corporate Tax Witholdings
In accordance with the corporate tax Act no. 5520 which is entered into force on 1/1/2006 ,tax witholding is made over the income(earnings of) of the full liable taxpayers(companies) as stated in the article 15 and in the article 30 for limited liable taxpayers.
Amendments To Free Zones Act No.3218
The Free Zones Act No. 3218 was amended considerably on 25/11/2008, and the income tax exemption applied to those working in free zones by 31/12/2008 under several conditions has been extended. With the said amendment, the outlines of the taxational framework for the free zones are as follows:
Tax Regulations Within The New Economic Measure Packages Of Turkey For The Global Financial Crisis
Turkish Government has prepared a new measures package to revive domestic demand in response to a global financial malady. By the Cabinet Decision announced on 16.03.2009, The Government reduced VAT and special consumption tax in automotive, construction, textile, white and Brown goods sectors and it is expected to extend financial support for exporters.
Promotion Materials And Benefits Given In Cash And In Kind In Pharmaceutical Sector And Taxational Aspects
Today, constantly changing consumption trends and increasingly intensified competition cause companies to find different marketing techniques. Turkish pharmaceutical sector is the one in which different methods for promotion and marketing are used . The aim of this article is to assess the situation of the firms operating in pharmaceutical industry, taking into consideration the requirements brought by the Ministry of Health and Tax laws
The Period For Benefiting From The Cash Repatriation Law Has Been Extended
As remembered, in reaction to the economic downturn, Turkey passed the law,numbered 5811 introducing tax benefits for tax payers who repatriate or declare their unrecorded assets such as cash, real estate,foreign currency etc.
