Amendments to Particular Turkish Tax Laws

The Law Numbered 6009 Regarding the Amendments in the Personal Income Tax Law (PITL) and Certain Laws has been promulgated upon its publication in the Official Gazette dated 1 August 2010 and Numbered 27659. The Law imposes changes in several tax subjects: income tax tariff applicable to the salaries and wages retrospectively from 1 January 2010, investment allowance limited to 25% of the corporate income without any period limitations, tax rate on gains derived on income stated in Temporary Article 63 of Income Tax Law, certain corporate income tax (CIT) exemption and exceptions, social and military exceptions in Value Added Tax (VAT) Law, and some other tax issues. In this article, these tax law amendments are deeply analysed from the points of personal income tax (PIT), CIT, and VAT and the subjects are expanded by examples.