Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 02 JANUARY 1997

Tax System In Turkey - Taxation Authority

Arthur Andersen
Explore more from Arthur Andersen

TurkeyFinance and Banking
The constitution of the Republic of Turkey gives exclusive authority to parliament to pass all laws regulating to taxes, customs duties and similar financial responsibilities. However, tax laws are administered by the Ministry of Finance and are often imposed by decrees of the Council of Ministers. In general, each tax is associated with a specific tax law.

The two basic tax procedural laws that are currently in effect are the Tax Procedures Code (Statute 213) and Statute 6183 concerning the procedures for the collection of public claims. These laws contain general principles applicable in all the other laws.

The Tax Procedures Code contains provisions regulating procedures concerning tax liability, various forms of taxation, prescription period and book-keeping, and methods that apply during the valuation of assets, liabilities, and payables. Law 6183 contains provisions relating to the payment of taxes, and the penalties and interest to be imposed on taxpayers who fail to

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Implementation Procedures For Investment Funds Ordered Into Liquidation

With its decision No. 57/1708 dated 17.09.2026, the Capital Markets Board (the “CMB”) set out the liquidation procedures for the 131 investment funds established by Tera, A1 Capital, Atlas, Bulls, Hedef, Pardus and Pusula Portföy Yönetimi, whose liquidation had been ordered under its previous decision, and updated the relevant list of funds in the same decision.
TurkeyFinance and Banking
Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
Article

Sweeping Changes Announced For Turkish Portfolio Management Companies

The Capital Markets Board of Türkiye has introduced comprehensive regulatory reforms affecting hedge funds and portfolio management companies, implementing new investment diversification requirements, graduated ownership caps based on free-float ratios, enhanced capital adequacy standards, and stricter personnel qualifications. These changes, effective from August 2026, establish tiered compliance deadlines and fundamentally reshape the operational framework for Turkish portfolio managers.
TurkeyFinance and Banking
KST LAW
KST LAW
Article

Developments Concerning Liquidity Measures In The Capital Markets And The Fund Liquidation Process

On 16 September 2026, the money market funds founded by Pusula Portföy Yönetimi A.Ş. defaulted after failing to meet the cash redemption requests received from investors, triggering a sharp sell off on Borsa Istanbul. The BIST 100 index lost 5.54% that same day and hit a circuit breaker; the selling soon spread to Tera Portföy funds as well. It became apparent that the problem was not confined to those two firms but also extended to Hedef, Atlas, A1 Capital, Pardus and Bulls Portföy.
TurkeyFinance and Banking
Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
Article

Turkish Capital Markets Board Introduces Measures On Investment Funds

Borsa Istanbul’s BIST 100 index came under significant selling pressure over three consecutive trading sessions between 15-17 September 2026. The index closed down 5.54% on 16 September, a move that triggered Borsa Istanbul’s index-linked circuit breaker, and negative momentum continued into the morning of 17 September. The sell-off was primarily triggered by a default at Pusula Portföy Yönetimi A.Ş., a portfolio management company, which failed to meet investor redemption requests from certain funds it manages in a timely manner. A similar liquidity problem emerged at Tera Portföy Yönetimi A.Ş., and this situation put pronounced pressure on the shares of both companies as well as on broader market indices.
TurkeyFinance and Banking
Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership