Corporate Tax Rate has been increased
Through the promulgation of the Law No. 7316 on the Amendment to the Law on Collection Procedure of Public Receivables and Certain Laws (“Law No. 7316”) in the Official Gazette dated April 22, 2021 and numbered 31462, the corporate tax rate of 20% has been increased.
Through the provisional article introduced in the Corporate Tax Law No. 5520 under the Law No. 7316, the corporate taxpayers will be subject to the corporate tax rate of
- 25% for the revenue of the taxation period of 2021,
- 23% for the revenue of the taxation period of 2022.
The provisional article introduced through the Law No. 7316 enters into force on April 22, 2021 starting from the declarations to be submitted as of July 1, 2021 and applying to the revenue of the taxation period as of January 1, 2021.
In this regard, the corporate tax rate is applied as 20% for the first provisional tax period of 2021.
You may find the full text of the Law No. 7316 here.
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