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Taxation In Turkey
Taxation is an important part in the Turkish economy. Turkey has a 25.5% tax to GDP ratio (in 2016). Most of the taxes are levied by central government. However some specific taxes are levied by municipalities, with the amount determined by centrally issued legislation. Municipalities have no authority to make their own tax laws. Tax Procedure Law Taxation system in Turkey is regulated by the Tax Procedure (TP) Law. It regulates the rights, burdens, carrying out duties along with principals of accrual. This law consist of procedural and official provisions of all tax laws. The TP has five main sections: taxation, taxpayer duties, valuation, penalty provisions and tax cases. Taxes The Turkish tax legislation can be divided into three main categories: # Income taxes # Taxes on expenditure # Taxes on wealth Income taxes The Turkish tax legislation has two types of income taxes, the individual income tax and corporate income tax. Many rules and provisions are the same for indiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Varlık Vergisi
The Varlık Vergisi (, "wealth tax" or "capital tax") was a tax mostly levied on non-Muslim citizens in Turkey in 1942, with the stated aim of raising funds for the country's defense in case of an eventual entry into World War II. The underlying reason for the tax was to inflict financial ruin on the minority non-Muslim citizens of the country, end their prominence in the country's economy and transfer the assets of non-Muslims to the Muslim bourgeoisie. It was a discriminatory measure which taxed non-Muslims up to ten times more heavily and resulted in a significant amount of wealth and property being transferred to Muslims. Background The bill for the one-off tax was proposed by the Şükrü Saracoğlu government, and the act was adopted by the Turkish parliament on November 11, 1942. It was imposed on the fixed assets, such as landed estates, building owners, real estate brokers, businesses, and industrial enterprises of all citizens, but especially targeted the minorities. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Turkey
Taxation is an important part in the Turkish economy. Turkey has a 25.5% tax to GDP ratio (in 2016). Most of the taxes are levied by central government. However some specific taxes are levied by municipalities, with the amount determined by centrally issued legislation. Municipalities have no authority to make their own tax laws. Tax Procedure Law Taxation system in Turkey is regulated by the Tax Procedure (TP) Law. It regulates the rights, burdens, carrying out duties along with principals of accrual. This law consist of procedural and official provisions of all tax laws. The TP has five main sections: taxation, taxpayer duties, valuation, penalty provisions and tax cases. Taxes The Turkish tax legislation can be divided into three main categories: # Income taxes # Taxes on expenditure # Taxes on wealth Income taxes The Turkish tax legislation has two types of income taxes, the individual income tax and corporate income tax. Many rules and provisions are the same for indiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
