The OECD releases the 2022 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations on 20 January 2022. The OECD Guidelines for Multinational Enterprises are recommendations addressed by governments to multinational enterprises operating in or from adhering countries. They provide non-binding principles and standards for responsible business conduct in a global context consistent […]
Regulations regarding the business setup process in a foreign country may differ from your own country, and whether starting a small or big business, it is not an easy process. Before this process, researching the business environment in which you want to set up a company should be the first step. As a foreign business […]
For foreigners, with its thriving economy despite setbacks, unpenetrated markets, low operating costs, and qualified labor force, Turkey has much to offer. Other than those advantages, it is also possible for investors to obtain Turkish citizenship via their investments in Turkey.
Foreign capitalized companies, branches and liaison offices are obliged to notify related government authorities for their annual activities and/or in case there is a change in capital and shareholder structure of the legal entity according to Turkish Foreign Direct Investment Laws and Governing Regulations.
Employees engaged in seasonal or other occupations which, owing to their nature, last <1 year do not qualify for annual paid leave.
Turkish Labor Code, Act No. 4857, enacted in 2003, regulates the working conditions and work-related rights and obligations of employers and employees working under an employment contract. The Code forbids discrimination, including any that is based on language, race, sex, political opinion, philosophical belief or religion.
The Turkish direct taxation system consists of two main taxes on income and earnings. The first one is income tax which individuals are subjected. The second one is corporate tax which corporations are subjected.
Turkish regulatory and supervisory authorities are established to manage, supervise and oversee different types of markets and market activities in agreement with these regulations or malfunctions that may occur.
Foreigners who want to work in Turkey are required to get a work permit. In order to get your work permit, you are required to submit needed documents and follow certain stages within the timeframe of work permit.
Employment of foreigners subjects to specific regulations. Therefore, companies should give attention to following points when they plan to employ foreign employees in Turkey:
