With the introduction of Law No. 7524, Türkiye has added the section “Local and Global Minimum Supplementary Corporate Tax” to the Corporate Data Law No. 5520. This regulates tax liability, tax base and tax rate, as well as exceptions and exemptions for multinational companies covered by the law. The Ecovis experts explain these and other details on the implementation of the tax.

The OECD wants multinational companies above a certain size to pay a minimum rate of 15% tax on their profits in each country in which they operate, to prevent tax avoidance. If companies pay less than 15% tax in one country, the home country of the group of companies or another country in which the group operates can levy this tax.