Turkey Provides Guidance on Taxation of Sports Sponsorships

Turkey's Revenue Administration has announced the publication of the Guide to the Taxation of Sponsorship Expenditures, which covers sports-related sponsorships of athletes, clubs, etc. According to the guide, examples of eligible sponsorship expenditures include:

• Sports facility rental costs;
• Travel, accommodation, and food expenses for athletes;
• Sports equipment costs;
• In-kind and cash expenditures for sports facilities; and
• In-kind and cash payments in the form of performance bonuses to…