Compliant taxpayers entitled for refund should apply before the deadline for income and corporate tax returns.

The requirements for reduction applicable to tax-compliant taxpayers are indicated in the repetitive Article 121 of the Income Tax Law. Amendments to these requirements were announced with the Law no. 7194 published in the Official Gazette dated 7 December 2019. Accordingly, meeting the specified conditions;

• Income taxpayers due to their commercial, agricultural or professional activities; in their income tax returns for 2019 to be submitted until 31 March 2020,
• Corporate taxpayers in the corporate tax returns for 2019 to be submitted until 30 April 2020,

will be able to benefit from the aforementioned reduction. However, it is not possible for the calculated reduction amount to exceed 1.400.000 TL for 2020.

On the other side, for income and corporate taxpayers that the amount of reduction calculated in the income and corporate tax returns for 2018 submitted in 2019 is more than the tax payable; we would like to remind that they should request the deduction of the concerning amounts from the other taxes accrued before 31 March 2020 and 30 April 2020 respectively.

Taxpayers who do not apply within this period will lose their rights.

In any case, there is no possibility to refund the said amounts in cash.