There are many days that Turkish citizens celebrate during the year that have a special meaning. It is possible to divide these days into religious holidays and national holidays. Religious holidays are generally special days included in the Islamic religion and are celebrated in Turkey like every Muslim country. These are Eid al-Adha and Eid al-Fitr. National holidays, on the other hand, are days that have special meanings in the process until the Republic of Turkey gains its independence. A few of them can be exemplified as Victory Day, Republic Day, Youth and Sports Day. National Holidays N ..read more

The OECD releases the 2022 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations on 20 January 2022.  The OECD Guidelines for Multinational Enterprises are recommendations addressed by governments to multinational enterprises operating in or from adhering countries. They provide non-binding principles and standards for responsible business conduct in a global context consistent with applicable laws and internationally recognized standards. The Guidelines are the only multilaterally agreed and comprehensive code of responsible busin ..read more

Types of Turkish Passport The Turkish Passport is the 39th most powerful passport in the world among 199 countries, and 18th most powerful passport in Europe. Turkish citizens can travel to 115 countries without a visa, to 83 countries with a visa that can be obtained at the airport, and to 7 countries with an online visa. There are 4 different types of passports in the Republic of Turkey. 1. Ordinary Passport (Burgundy Passport) Ordinary passports, the outer cover color of which is burgundy, consist of 38 pages. This is the type of passport that Turkish citizens receive with a personal applic ..read more

The Law No. 7352 on the Amendment on Tax Procedure Law and Corporate Income Tax Law has been approved by the Grand National Assembly of Turkey. Within the scope of supporting Currency Protected Deposit accounts, the income of corporations to be obtained from these accounts is exempted from corporate income tax. With the amendment, if corporations convert their foreign currency monies in their balance sheets presented as of 31.12.2021 to Turkish Lira by 17.02.2022 and evaluate this amount in their deposit or participation accounts for at least three months, the income from foreign currency valu ..read more

Advantages of Obtaining Residence Permit in Turkey There are many advantages for foreign nationals who will obtain or want to obtain a residence permit in Turkey. Some of these advantages can be named as investing in a secure future, having a good education life, having quality job opportunities, and benefiting from advanced health care. How to Obtain Residence Permit in Turkey A residence permit is a permit system that must be obtained for every foreign national who will stay in Turkey for more than 90 days. If this permit is not used within 6 months of the receipt of the residence permit, th ..read more

Minimum wage amount for 2022 announced by the president is effective as of 1st of January 2022. According to the statement released by the Ministry of Labor and Social Security, gross minimum wage for 2022 has been set as 5.004,00 TRY and net minimum wage has ben set as 4.253,40 TRY. Minimum wage amount is increased by 50% compared to 2021. Gross minimum wage was 3.578 TRY last year. Effective by the next year, Turkey will abolish the income and stamp tax collected on the minimum wage. 2022 minimum wage and employer cost calculation can be seen in Table 1 & 2 ..read more

Turkey is located in a geography that has hosted many civilizations from past to present. Since the Turks have adopted the nomadic lifestyle in the earlier time, they have not left any works from these times, but many works emerged when the Uyghurs adopted a settled life. Thus, architectural works began to be seen in Turks. Some of the works were so solidly and skillfully made that they managed to survive until today. Artifacts from ancient times with high historical value have been taken into the UNESCO cultural heritage list and taken under protection. Göbekli Tepe Göbekli Tepe is among the ..read more

Turkey is a country where investments are increasing day by day with a developing economy and a qualified workforce. Turkey, which connects Asia and Europe, has many important transportation points that attract the attention of foreign investors. There are investment incentives offered to foreign investors in many sectors such as real estate, agriculture, energy, telecommunications, etc. It is possible to invest in many regions and many cities of Turkey. Investment Incentives in Turkey Turkey is at a time when it attaches great importance to investment incentives. In very different cities, the ..read more

According to TurkStat’s (Turkish Statistical Institute) data, Turkey’s tourism income shot up by 181.8% year-on-year in the 3rd quarter of 2021.  Following a significant fall last year due to the coronavirus pandemic, the country earned $11.4 billion this July-September, up from $4 billion in the same period last year when the pandemic led to a collapse in international travel. Turkey welcomed 13.6 million visitors in the 3-month period,  jumping by 143.4% on an annual basis. Tourists from those top 5 countries visited Turkey most in between July-September, 2021: Russia Germany Ukra ..read more

Turkey attracts investors from many different nationalities all around the world. The biggest reason for this is the positive discriminatory features that it has. These features are a highly skilled workforce, its geopolitical position, its ability to accommodate people of many different nationalities, and its developing economy. Turkey also provides many investment incentive support to foreign investors. Investment Incentives in Turkey Turkey is a country that offers many conveniences to investors in terms of investment. Investment incentives are categorized under four subheadings. These are ..read more