In case an income is generated by corporations, this income is subject to Corporte Income Tax.
Corporate Income Tax – Taxpayers are;
- Capital Comopanies (i.e. Ltd, A.S.)
- Enterprises of Public Bodies
- Enterprises of Association or Foundations
- Joint Ventures
Full Taxpayer: Corporations with legal or business center (at least one) located in Turkey are liable for taxation of their income generated from all around the world (including Turkey),
Partial Taxpayer: Whereas if non of these (legal or business center) are located in Turkey, then these corporations are liable for taxation of income generated only from operations in Turkey.
CORPORATE TAX RATE: Normally, Corporate Tax Rate is 20% and this rate was applicable since 2006. But, this was raised to 22% for 2018, 2019 and 2020 fiscal years.
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