ARTICLE · 20 MARCH 2023

One-time Additional Tax Introduced For Certain Corporate Taxpayer

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Law No. 7440 on Restructuring of Certain Receivables and Amendments to Certain laws ("Law No. 7440"), published in the Official Gazette dated 12 March 2023, introduced a one-time additional tax...

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Dr. Erdal Ekinci

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Law No. 7440 on Restructuring of Certain Receivables and Amendments to Certain laws ("Law No. 7440"), published in the Official Gazette dated 12 March 2023, introduced a one-time additional tax for certain corporate taxpayers that benefit from certain exemptions and deductions in the calculation of their corporate income tax base. The one-time additional tax, also called the "earthquake tax", aims at creating funds to meet the urgent necessities of the victims affected by the earthquake centered in Kahramanmaras and Hatay, as well as for the reconstruction of the area. It is expected that 22,000 corporate taxpayers will be affected by the additional tax.

What does the one-time additional tax mean?

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