ARTICLE · 09 JANUARY 2024

Law No. 7491 Makes Significant Tax Amendments

Esin Attorney Partnership

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Law No. 7491 on Amendments to Certain Laws and Statutory Decrees ("Law No. 7491"), which was published in the Official Gazette no. 32413 on 28 December 2023, has made significant amendments related to tax legislation.

TurkeyTax

Dr. Erdal Ekinci

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Law No. 7491 on Amendments to Certain Laws and Statutory Decrees ("Law No. 7491"), which was published in the Official Gazette no. 32413 on 28 December 2023, has made significant amendments related to tax legislation.

New Developments

The amendments expand the scope of income tax exemption for social media content production and mobile application development, introduce new tax exemptions for dividends received from abroad, increase the deduction rate applied to income received for services provided abroad, apply inflation adjustment to banks and financial institutions, abolish the lump-sum expense application in exports, and extend the deadlines for the submission of VAT Return No. 2 and payment of reverse-charge VAT.

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