The 52-article tax package discussed in the Planning and Budget Committee of the Turkish Grand National Assembly has seen significant changes. During the committee process, the VAT exemption considered for sea transport vehicles used in non-commercial activities was removed with a proposal submitted by the AK Party. With this regulation, an additional tax of 3.8 billion liras was waived.
Within the scope of the tax package, a complementary global minimum corporate tax of 15 percent will be collected from 57 global groups and 1,431 businesses with main operations in Turkey and 1,848 overseas businesses affiliated with them. In addition, a complementary global minimum corporate tax will be collected from 1,24 groups with main operations abroad and 2,134 businesses affiliated with them operating in the country.
With the tax regulation, a 10 percent domestic supplementary minimum corporate tax will be collected from 62 thousand Corporate Tax payers. No domestic supplementary minimum Corporate Tax will be collected from global businesses and groups with main operations in Turkey. In total, a minimum Corporate Tax of 110 billion lira will be collected from these two items.
