Turkish Parliament Approves New Top Tax Rate, Digital Services Tax
by Mary Swire, Tax-News.com, Hong Kong
26 November 2019
Turkey will increase taxes on higher earners and introduce a new tax on digital services.
On November 21 the Turkish parliament passed a regulation that will introduce a new income tax rate of 40 percent, on income above TRY500,000 (USD87,096) a year.
Parliament also approved a 7.5 percent tax on digital advertising and content, with a scope in line with the EU's proposal. It also approved an increased tax on accommodation services of one percent. It will rise to two percent from 2021.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- Tax Cogs Lock Into Place »
- Anti-Avoidance Measures Are Unavoidable... »
- BEPS And Digital Taxes Grab The Spotlight... »
- Four key industries in the Hong Kong economy »
- Taxpayers Get A Pandemic Pass »
- Governments Get Back to Tax Brass Tacks »
- Tax Tinkering Takes Precedence »
- Seven Benefits of using Mail Forwarding for small business »
- A Direct Look At Indirect Taxes »
- Governments Look To The Future »