Amendments have been made on the Turkish Currency Value Protection Communique with a Communique no: 2022-32/66 published on the Official Gazette numbered 31814 and dated 19.04.2022.

Per that amendment, the movable asset sale contracts (except vehicle sales contracts) between the resident individuals in Türkiye can be done in foreign currency or indexed to foreign currency. However, it is obligatory to fulfill and accept the contractual payment obligations in Turkish currency.

You can reach the relevant Official Gazette via that link. (In Turkish).

With the Presidential Decision numbered 5359 published in the Official Gazette dated March 29, 2022 and numbered 31793, some amendments have been made on VAT rates in the lists I and II, effective as of April 1, 2022.

The amendments can be listed below:

Taxpayers / individuals who have annual income tax return obligations due from their wage incomes or other non-wage incomes / personal investments in 2021 (including R&D and technology development zone employees) can submit their annual income tax returns by using the Pre-filled Tax Return System of the Revenue Administration.

Since the wages of the liaison office employees are exempt from income tax, these amounts would not be taken into account during annual income tax return calculations.

The employees can reach Pre-filled Tax Return System via their personal e-Government account passwords. You can also check the detailed info of the Revenue Administration Pre-Filled Tax Return System on the below link:

Pre-Filled Tax Return System (In Turkish)

Each year, the rent income earned by real persons are declared to the respective tax office with the Annual Income Tax Return. For 2021 tax year, the tax return submission deadline is 31st of March, 2022. The types of income that are within the scope of GMSI except for the rent incomes, are stated in the Income Tax Law Number 70. In order to declare the rent income, the lump sum expense method and actual expense method are implemented. On lump-sum method, after deducting the amount of exception from the rental income, 15% of the remaining amount can be deducted against actual expenses. Lump sum expense method is not applicable for lease of rights. In the below table only information is provided for rent income from residental and commercial places. For further detailed information please contact your customer representative or an expert.