Evren Özmen
Serbest Muhasebeci Mali Müşavir
Bilirkişi
evrenozmen@ozmconsultancy.com
www.kooperatiflerkanunu.com

Turkey is Becoming a Digital Nomad Hotspot. New Tax Benefits for Remote Workers and Companies

Introduction

Turkey is on the verge of solidifying its status as a premier destination for digital nomads and foreign companies poised to implement new tax reforms. Pending amendments to Article 89/1–13 of the Income Tax Law promise a substantial 80% tax benefit, positioning Turkey as an enticing hub for remote activities.

Tax Incentives for Corporates and Individuals

Anticipated adjustments in Article 10 and Article 89, under the category of "Other Discounts," are set to elevate the discount rate from 50% to an alluring 80%. This will specifically apply to services,  architecture, engineering, design, software development, medical reporting, accounting, call centers, product testing, certification services, and education and health services for foreign clients.

How to Leverage the Future Tax Break?

Once the regulatory changes are implemented, securing the anticipated 80% tax deduction will be a straightforward process for corporate entities and individuals  
Simply remit the total earnings from the designated services to Turkey before the tax return deadline for the respective calendar year. This not only maximizes future tax benefits but also contributes to economic growth in Turkey.

Qualifying Conditions for the Future Tax Benefit

Corporations and individuals eyeing the forthcoming 80% deduction must adhere to stipulated conditions. Ensuring timely submission of tax returns and aligning services with the specified categories outlined in the impending amendment will be key requisites.

Strategic Implications for Corporates and Individuals

Turkey's soon-to-be-established tax-friendly environment, marked by the 80% deduction, positions the country as an optimal choice for corporations engaged in remote operations. This significant tax advantage not only enhances competitiveness but also aligns with Turkey's commitment to attracting top-tier corporate talent.

Conclusion:

Turkey's proactive approach to embracing the digital nomad landscape, coupled with the anticipated 80% tax benefit, reflects a forward-thinking strategy. For corporations seeking a blend of operational efficiency and forthcoming fiscal advantages, Turkey emerges as a compelling destination on the horizon.

08.12.2023

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