Under General Communiqué No. 573 on the Tax Procedure Law, published in the Official Gazette dated November 12, 2024, the legal groundwork was laid for issuing the “expense voucher” (gider pusulası) electronically, with the Turkish Revenue Administration (GİB) authorized to implement it. Joining e-invoice, e-archive invoice, and e-waybill in Turkey’s e-transformation family, this new document…
Under Law No. 7582, published in the Official Gazette dated June 4, 2026 (No. 33270), Repeated Article 20/D was added to the Income Tax Law, granting individuals who settle in Turkey a 20-year income tax exemption on their foreign-sourced income. Viewed alongside the Asset Peace regulation we covered earlier, this exemption presents a significant opportunity…
Company formation in Turkey may look complete once the Trade Registry issues the registration, but that’s really just the beginning. Fifteen follow-up steps must be completed afterward — some of them time-sensitive and subject to administrative fines. The minimum capital increase requirement we covered earlier can also apply to this list for existing companies. In…
Under Presidential Decree No. 7887, published in the Official Gazette dated November 25, 2023 (No. 32380), the minimum share capital amounts for joint-stock companies (A.Ş.) and limited liability companies (Ltd. Şti.) in Turkey were significantly increased. Subsequently, Law No. 7511, published in the Official Gazette dated May 29, 2024 (No. 32560), granted existing companies a…
Under General Communiqué No. 49 on the Law of Independent Accountancy, Financial Advisory, and Sworn-in Financial Advisory, published in the Official Gazette dated December 30, 2025 (No. 33123), income and corporate taxpayers must now submit a certification report prepared by a Sworn-in Certified Public Accountant (YMM) in order to benefit from certain exemptions, deductions, and…
When a company holds cash in excess of its ordinary business needs, or lends money to its partners, one of the most common issues raised in tax audits is which interest rate should be used in the “adat” calculation — the notional interest calculation applied to such balances. Turkey’s Council of State (Danıştay) has established…
Properly closing the Customs Exit Declaration (Gümrük Çıkış Beyannamesi, “GÇB”) for export transactions is key to avoiding serious consequences such as tax penalties, loss of incentives, and delayed VAT refunds. In this article, we summarize the 7 key steps in the GÇB closing process and the risk areas to watch for. What Is a GÇB…
The KURGAN risk analysis system we covered in an earlier article doesn’t just monitor invoices and e-ledger records — it also closely tracks spending on corporate credit cards. Banking transactions (POS, EFT/wire transfers, credit card payments) are evaluated by risk analysis centers and compared against a company’s commercial activity. In this article, we explain why…
Turkey’s Ministry of Treasury and Finance has fully digitalized the cross-verification (karşıt inceleme) process used by Sworn-in Certified Public Accountants (YMM), through Communiqué No. 1 on the electronic submission of cross-verification records attached to YMM certification reports, published in the Official Gazette dated December 24, 2025 (No. 33117). In this article, we summarize how the…
As of October 1, 2025, Turkey’s Tax Inspection Board, under the Ministry of Treasury and Finance, entered a new era in the fight against fraudulent documents and tax evasion. Introduced under the “Strategy for Combating Fraudulent Documents,” the KURGAN system (Institution-Supervised Analysis System) is a centralized, AI-powered risk analysis system that monitors taxpayers’ transactions in…
