ITS Alerts 2010 5501 ITS Alerts 2010 5501

Date Summary
9-Dec-2010  Turkey plans the most comprehensive tax amnesty ever
30-Nov-2010  Turkey increases inspections regarding intra-group services
8-Sep-2010  On July 19 2009 governments of Canada and Turkey signed a tax treaty which is the first treaty concluded between two countries.
19-Aug-2010  Turkish courts rule on taxation of capital replenishment funds which are funds sent from shareholders resident abroad to local entities in order to comply with Article 324 of Turkish Commercial Code. A few years ago tax inspectors criticised these funds from the point of view of corporate tax, advance corporate tax and VAT.
19-Aug-2010  Law No 6009 which became effective starting from 1 July 2010 fine tunes tax audits. Law is enacted in order to eliminate problems like lack of communication between different units of tax audit, conflicting results between tax rulings and reports.
13-Aug-2010  Austria and Turkey signed a tax treaty and accompanying protocol (the "treaty") on May 25, 2007, which entered into force on October 1, 2009. The provisions of the treaty took effect on January 1, 2010.
11-Jun-2010 Turkey's new debt pushdown rules and a tax ruling issued about the deductibility of financial expenses for the loans obtained by a SPV for the acquisition of the shares of a state-owned electricity distribution company under the government privatization program.
15-Apr-2010  On April 3 2010, Turkish Ministry of Finance announced a planned regulation change to the Income Tax Law in order to eliminate the taxation difference between Turkish residents and non-resident investors. The difference resulted from %0 withholding tax applied to non-residents on the capital gains derived from trading of government bonds, treasury bills and private sector bonds, income derived from mutual funds and profits derived from transactions in futures exchange markets.
22-Jan-2010 On January 15, 2010 a new treaty was signed between the governments of Norway and Turkey.
8-Jan-2010 Council of Ministers Resolutions no. 2009/15631 which decreases drug prices in Turkey significantly may adversely affect pharmaceutical companies whose transfer pricing policies are based on profitability analyses.