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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.

TAGS: tax | sales tax | tax thresholds | transfer pricing | tax rates | tax reform | regulation | individual income tax | Turkey | services | BEPS

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