Declaration and Payments Begin for Corporate Taxes

Corporate tax payers can submit their declarations for the 2024 accounting period between April 1-30. The declaration period begins tomorrow for capital companies, cooperatives, economic public institutions, commercial enterprises owned by associations or foundations, and partnerships that are corporate tax payers. Tax payers can declare their corporate taxes related to the 2024 accounting period until the end of April. Corporate taxes will also be paid between April 1-30. Companies with special accounting periods are required to pay their taxes by the end of the relevant month in which they submitted their declarations. Tax payers can pay their taxes through the “gib.gov.tr” website of the Revenue Administration, Digital Tax Office and Revenue Administration mobile application, through bank-credit cards or accounts from contracted banks, or with cards from banks operating in foreign countries. Additionally, payments can be made through the branches of contracted banks, internet, telephone and mobile banking, and from PTT branches. COMPATIBLE TAXPAYERS GET A 5% DISCOUNT Declarations must include documents such as balance sheets, income statements, business account summaries, taxes paid through withholding, profits obtained in free zones, capital support for technology start-ups and technology development zones, taxes paid in foreign countries, basic financial statements, notifications regarding corporate partners and board members. Providing information and documents regarding discounts and exemptions such as R&D, design, cash capital increase, and industrial property right exemption with the declaration is crucial. Corporate tax payers (excluding those in the finance and banking sectors, insurance and reinsurance companies, pension companies, and pension investment funds) meeting the specified conditions are eligible for a 5% discount on the tax calculated on their declarations. To qualify, the conditions include timely payment of taxes for the year of the declaration and the last two years prior, with no outstanding debts.