Tax Alert 2/2016  
Q2/2016 Protocol Amending the Turkey-Belgium Double Taxation Agreement

As it is known, the protocol, amending Article 26 entitled “Exchange of Information” and Article 27 entitled “Assistance in the Collection of Taxes” of the Double Tax Treaty between Turkey and Belgium (“DTT”) in accordance with the updated OECD Model Tax Treaty, was signed on July 9, 2013 (“Protocol”) in Brussels.


Q2/2016 The interest Rate in relation to Application of the Deduction on Capital Increases in Cash is Announced as % 14.65 by the Revenue Administration

As it is known, with the amendment made on Article 10 of the Corporate Income Tax Law by the Law No. 6637, companies were provided with the right to deduct 50% of the interest calculated, by using the weighted annual average interest rate of Turkish Lira denominated commercial loans, over capital increases made in cash from the corporate income tax base. (For background information please see our Newsletters No.Q2/2015, Q3/2015 and Q1/2016).


Q2/2016 Changes in the Decree on Public Incentives for Investments

The Decree on Public Incentives for Investments (Decree No. 2012/3305) was changed by the Decree No. 2016/8715 (published in the official gazette dated April 8, 2016 and numbered 29678).

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Q2/2016 Changes in the Communique regarding the application of the Decree on Public Incentives for Investments

The Communique regarding the application of the Decree on Public Incentives for Investments (No. 2012/1) was changed by the Communique No. 2016/2 (published in the official gazette dated June 25, 2016 and numbered 29753).

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  Tax Team  

The award winning Pekin & Pekin Tax practice team leaves regular compliance support to accounting firms and instead focuses on more complex cases, giving clients direct practical and innovative advice.

To discuss how these developments affect your business interests please contact either:

Fethi Pekin
Managing Partner
Firat Yalçin
Partner, Tax


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