ISTANBUL: Turkey is to hike its headline corporate income tax rate to 22 percent for at least three years. The change was announced in Article 91 of Law no. 7061, which was approved by Parliament on November 28, 2017, and published in the Official Gazette on December 5, 2017, in issue no. 30261.
The rate will apply for the 2018, 2019, and 2010 tax years, with the hike being effective immediately from December 5, 2017.
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