Turkey Clarifies Determination of Ultimate Real Beneficiaries

Turkey's Revenue Administration has announced the publication of Tax Procedure Law Circular 145, which clarifies the determination of ultimate real beneficiaries (beneficial owners) in accordance with Article 5 of General Communiqué No. 529. The General Communiqué, published in July 2021, regulated the determination of ultimate real beneficiaries (beneficial owners) of corporate taxpayers, collective companies, limited partnerships, ordinary partnerships, and trusts, as well as their notific…