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Commencement of Declaration and Payment Period for Corporate Tax

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Corporate tax payers can submit their declarations for the 2024 accounting period between April 1-30. The declaration period has begun for capital companies, cooperatives, economic public institutions, economic enterprises belonging to associations or foundations, and partnerships that are corporate tax payers. Tax payers can declare their corporate taxes for the 2024 accounting period until the end of April. The corporate tax will also be paid between April 1-30. Corporations with special accounting periods are required to pay their taxes by the end of the relevant month in which they submit their declarations. Tax payers can make their payments through the “gib.gov.tr” website of the Revenue Administration (GİB), the Digital Tax Office, and the GİB mobile application, as well as through bank-credit cards or accounts of contracted banks, and with cards from foreign banks operating abroad. Additionally, payments can be made through branches of contracted banks, internet, telephone, mobile banking, and PTT branches. 5% DISCOUNT FOR ELIGIBLE TAX PAYERS Declarations must include information and documents such as balance sheets, income statements, business account summaries, taxes paid through deductions, profits obtained in free zones, venture capital and techno parks, taxes paid in foreign countries, basic financial statements, notifications related to corporate partners and board members. It is crucial to provide information and documents regarding deductions and exemptions such as R&D, design, cash capital increase, industrial property right exceptions with the declaration. For corporate tax payers meeting certain conditions (excluding those operating in finance and banking sectors, insurance and reinsurance companies, pension companies, and pension investment funds), 5% of the tax calculated based on their declarations is subject to discount. Conditions include timely payment of taxes for the year of the declaration and the previous two years, as well as having no overdue debts.

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