Turkey 2020 Tax Reform Plans Include Corporate Rate Cut and Digital Services Tax

The Turkish Government is reportedly working on proposals for several tax reform measures for 2020, including:

• A reduction in the general corporate tax rate from 22% to 20%, with a further reduction to 18% for non-financial institutions from 2021;
• The expansion of the number of individual income tax brackets from four to seven, including a top bracket rate of 40% for income exceeding TRY 500,000;
• The introduction of a 7.5% digital services tax (DST) that would apply for MNE groups meeting a …