The negotiations on the first part of the restructuring law proposal were completed in the General Assembly of the Turkish Grand National Assembly. In the first part, where the first 12 articles were adopted, amendments were made in line with the motions regarding earthquake-related measures.
Due to the earthquake, a one-time additional tax of 10% will be levied on the exemption and discount amounts deducted from corporate income in the corporate tax declaration for the year 2022 and on the bases subject to discounted corporate tax, and a one-time additional tax of 5% on earnings obtained from abroad.
This tax cannot be taken into consideration as an expense and discount and cannot be deducted from any tax. Corporate taxpayers in the earthquake zone will be exempt from the additional tax.
Employers will be exempt from tax and social security premiums for in-kind and cash aid up to 50 thousand liras for earthquake-stricken workers until July 31.