NEWSLETTER-2017

48 NEWSLETTER 2017 Turkish income tax, they must be deemed as “Turkish sourced”. For example: • For non-resident real persons, employment income is dee- med to be sourced (taxable) in Turkey if the employment is exercised or benefitted from in Turkey; • For non-resident real persons, capital gains is deemed to be sourced (taxable) in Turkey if the transaction is exercised or benefitted from in Turkey; • For dividend income if the capital is invested in Turkey. The term “benefitted from”, in relation to employment income and capital gains, refers to when the activity or transaction generating the income is performed or accounted for in Turkey. “Accounted for” means that a payment is made in Turkey, or if the payment is made abroad, it is recorded in the books in Turkey, or is made from the profits of the payer or the person on whose behalf the payment is made in Turkey.