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TURKEY: Turkey Introduces 10% Minimum Corporate Tax

TURKEY
EM BulletBulletGlobalEmerging Market NewsRegion
  • Turkey will introduce a 10% minimum corporate tax for companies starting from 2025 to help narrow its budget deficit, according to a decree published on the Official Gazette on Saturday. The changes are part of a projected policy shift overseen by Treasury and Finance Minister Mehmet Simsek, who has emphasised that tax laws will be simplified and that the scope of tax deductions and exemptions will be reduced.
  • The head of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) says central bank Governor Fatih Karahan and his team attended the TOBB Board of Directors meeting, Dunya report. “It was a productive and useful meeting where we exchanged views, expressed problems of the real sector and conveyed our suggestions,” he said.
  • The banking regulator will publish monthly aggregate data on the industry at 12:00BST/14:00 local time before the Treasury & Finance Ministry publishes its domestic borrowing plan for 4Q at 15:00BST/17:00 local time. Looking ahead, CPI data for September is the key release of the week on Thursday (Est: +48.30% Y/Y; Prior: +51.97%).
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  • Turkey will introduce a 10% minimum corporate tax for companies starting from 2025 to help narrow its budget deficit, according to a decree published on the Official Gazette on Saturday. The changes are part of a projected policy shift overseen by Treasury and Finance Minister Mehmet Simsek, who has emphasised that tax laws will be simplified and that the scope of tax deductions and exemptions will be reduced.
  • The head of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) says central bank Governor Fatih Karahan and his team attended the TOBB Board of Directors meeting, Dunya report. “It was a productive and useful meeting where we exchanged views, expressed problems of the real sector and conveyed our suggestions,” he said.
  • The banking regulator will publish monthly aggregate data on the industry at 12:00BST/14:00 local time before the Treasury & Finance Ministry publishes its domestic borrowing plan for 4Q at 15:00BST/17:00 local time. Looking ahead, CPI data for September is the key release of the week on Thursday (Est: +48.30% Y/Y; Prior: +51.97%).