According to recent reports, Turkey's Ministry of Finance is currently finalizing plans for a number of tax measures. Some of the main measures include:
- The introduction of a 22% tax rate for the financial sector (standard rate 20%);
- The introduction of 1% tax on retained earnings that will be levied on profits not capitalized or distributed within two months of the annual tax return deadline;
- A reduction in the capital gains exemption for immovable property held for at least two years from …