There is no doubt that investment in Turkey is a distinct opportunity for every investor, regardless of his field, and this is due to the great development that Turkey has been able to achieve during the past years. Trade with the countries of the region, in addition to the incentives and encouragement practised by the Turkish government and the many methods of attraction it applies to attract foreign investors, especially the possibility of granting them Turkish citizenship in several ways, either through real estate investment in Turkey or through many other methods.
Also, we must not forget the great effort of the Turkish government in reducing taxes imposed on investors, facilitating their transactions, and facilitating all steps, as it allows a foreigner to enter any investment field without imposing any additional taxes or fees on him and thus he is treated like the Turks and this is definitely not It can be found in any other country.
There are many types of taxes in Turkey, and these taxes follow a strict and clear law that leaves no room for doubt and send reassurance to the investor that his work is legal and is carried out according to what is permissible and among the types of taxes in Turkey is the income tax. Have you heard about it before?
Below we will provide the most important information related to income tax and how it is paid, so follow up with us.
It is a type of tax in Turkey that is paid through the income that the individual obtains, and for income, it expresses the net value of profits and imports that the individual has gained throughout the year.
The income tax in Turkey is imposed on specific types of revenues and profits, according to Turkish law, and it has been clearly defined, which are:
Paying income tax is a duty for any person residing in Turkey, and income tax is imposed on people who reside in Turkey for a full 6 months without any interruption, and other people must pay income tax and hold Turkish citizenship. Those who reside outside Turkey's borders do business and manage institutions or companies that are located within Turkey.
It is necessary to note that the income tax will be deducted from the net profits and imports that the person gets, whether it is inside or outside the Turkish borders.
Certainly, some people have incompletely paid income tax as they are subject to incomplete assignments regarding taxes in Turkey. These are individuals who do not reside in Turkey, as income tax is deducted from net imports and profits related to business inside Turkish territory only.
According to the Turkish tax law, the income tax is paid during March of each year and that is from the beginning of the month until March 25, and the income tax becomes obligatory on the individual starting from the year following the year in which he obtained the source of this income, which is considered included within Income tax.
Income tax is paid in two stages: the first extends to the end of March, while the second stage is paid during July of each year.
As for the place of payment, this takes place within the tax directorates that pertain to the individual's home or place of work, and this can be done through banks as well.
As it is known, the Turkish government provides the necessary assistance and advice to everyone at any time and on any issue, and certainly, the Turkish laws are flexible and clear and guarantee the smooth and smooth progress of the process to guarantee rights, organize work and provide a suitable environment for investment on its lands.