Tax refund is the recovery of taxes paid for a specific reason. This situation usually arises as a result of the taxpayer paying more tax than the total of the expenses declared in the tax return. In order to receive a tax refund, a certain procedure must be followed. Firstly, the tax return for the...

Tax liability is an obligation that everyone in Turkey must fulfil. Tax is a revenue item collected to contribute to the economy of the country and taxpayers are responsible for the payment and declaration of these taxes within the specified periods. Tax liability includes income tax, corporate tax, VAT, special consumption tax, property tax and...

Tax penalties are sanctions that may be imposed in cases where tax legislation is not complied with or tax obligations are not fulfilled. Tax penalties may be imposed as a result of a tax inspection or in cases such as failure to submit a declaration within the declaration period, submitting a false declaration, submitting an...

Withholding tax is a type of tax that taxpayers have to pay when they perform certain transactions. It is also commonly known as tax withheld from employees’ wages. By fulfilling the tax obligation in advance, withholding tax facilitates tax collection and reduces the burden of tax audits. Withholding tax is applied specifically to wages and...

Corporate tax is a tax levied on the earnings of a company. The declaration of this tax is done by filing the Corporate Tax Declaration every year. This declaration contains detailed information about the company’s transactions during the previous year and is submitted to the tax office. The Corporate Tax Return consists of General and...

The sale of real estate requires the payment of tax at certain rates according to tax legislation. This tax rate varies according to the date of sale and the value of the property. The tax levied on the sale of real estate can be analysed under two main headings: VAT and title deed fee. The...

Tax amnesty is a practice in which the state provides facilities to people who owe tax debts to pay their tax debts. Tax amnesty is generally applied to help people who have difficulty in paying their tax debts due to financial difficulties or other special reasons. Tax amnesty applications can be realised in various ways,...

VAT, or Value Added Tax, is a consumption tax levied on the production, import or sale of a good or service. Many goods and services in Turkey are subject to VAT and businesses collect and pay this tax to the government. Calculating VAT is quite simple. The VAT on a good or service is the...

The income tax return is a document that must be filled out by taxpayers at a certain period each year. This declaration shows the income received and taxes paid by a person or organisation over the past year. The income tax return allows taxpayers to declare and organise their debts for the payment of income...