Corporate - Other issues

Last reviewed - 26 July 2023

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, as a member of G-20 and OECD, has officially stated that it will be in compliance with the OECD’s CRS. As of 20 May 2017, the agreement was published in the Official Gazette and entered into force. Simultaneously, the tax authorities shared CRS Secondary Legislation with Turkish financial institutions in 2017. Turkish financial institutions sent their first CRS reports to the tax authority in May 2018.

According to the brochure published by the tax authority in January 2022, Turkey has completed the exchange of information requirements for FY19 and FY20 in 2021.

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.