Corporate - Other issues

Last reviewed - 02 May 2024

Intergovernmental agreements (IGAs) 

United States (US) Foreign Account Tax Compliance Act (FATCA)

Following the negotiations between Turkey and the United States, Turkey has been included on the list of jurisdictions that have reached agreement in substance as of 3 June 2014, and Turkey was regarded among the countries that will sign the Model 1 IGA. On and after 3 June 2014, Turkey and the United States had further negotiations and infrastructure tests, which were finalised by the beginning of July 2015, and the agreement was signed on 29 June 2015.

The IGA entered into force by the Council of Ministers Decision No. 9229 dated 19 September 2016, which is published in the Official Gazette dated 5 October 2016, and numbered 29848.

The agreement dated 2015 entered into force on 14 June 2021, and the secondary legislation was published in May 2022. The first FATCA information was reported by September 2022.

OECD Common Reporting Standard (CRS)

Turkey signed the Multilateral Competent Authority Agreement on the Exchange of Country-By-Country Reports (CbC MCAA) on 30 December 2019 and accordingly activated the CbC MCAA. Currently, Turkey shares CbC reports with 68 countries, while 83 countries share CbC reports with Turkey.

For up-to-date information

For up-to-date information on the most recent and significant developments in Turkish tax regulations, please refer to the tax bulletins added to our tax portal, Vergi Portali, which can be accessed at Vergiportali.com.