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Economy and Banking Sector of Turkey

Double Taxation Agreements

Double Taxation Agreement (DTA) is an agreement between two or more countries for the avoidance of double taxation.

DTAs of Turkey: 29 Signed Agreements

Turkey signed DTAs which already came info force with the following jurisdictions (for agreements which came into force after 1 January 2013 the date of coming into force is given in brackets):

 Austria
 Belgium
 Bulgaria
 Croatia
 Czech Republic
 Denmark
 Estonia
 Finland
 France
 Germany
 Greece
 Hungary
 Ireland
 Italy
 Latvia
 Lithuania
 Luxembourg
 Malta (Jun 2013)
 Netherlands
 Norway
 Poland
 Portugal
 Romania
 Slovakia
 Slovenia
 Spain
 Sweden
 Switzerland
 United Kingdom

Information Exchange

There are 3 ways for jusrisdictions to exchange information on tax matters:

  • spontaneously;
  • on request;
  • automatically.

Spontaneous exchange of information is provision of information that is forseeably relevant to another party without a request being previously sent.

Tax Information Exchange Agreements (TIEAs) enable exchange of information on request relating to a specific tax investigation, either criminal or civil.

Automatic information exchange allows jurisdictions to exchange information automatically, without having a specific tax investigation.

Exchange on Request: 5 Signed Agreements

Turkey signed TIEAs which already came info force with the following jurisdictions (for agreements which came into force after 1 January 2013 the date of coming into force is given in brackets):

 Jersey (Sep 2013)

There are also several agreements between Turkey and other jurisdictions which was signed but haven't yet come into force (for agreements signed after 1 January 2013 of signing the agreement is given in brackets):

 Bermuda
 Gibraltar
 Guernsey
 Isle of Man

Automatic Exchange: Starts in September 2018

Turkey didn't sign the automatic information exchange agreement but made a commitment to start the automatic information exchange in September 2018.

Automatic Excnange: 0 Bilateral Agreements to Receive Information

Turkey has not singed any bilateral agreements to automatically receive information.

Automatic Excnange: 0 Bilateral Agreements to Send Information

Turkey has not singed any bilateral agreements to automatically send information.

Further Information

FATCA

Foreign Account Tax Compliance Act (FATCA) which became law in the United States in March 2010, focuses on reporting made by foreign financial institutions about financial accounts held by US taxpayers or foreign entities in which US taxpayers hold a substantial ownership interest. The FATCA-reporting is facilitated by Intergovernmental Agreements (IGAs).

FATCA Status in Turkey
IGA in effect since 29 July 2015, Model 1

Turkey has FATCA agreement with the U.S. in effect since 29 July 2015 (Intergovernmental Agreement Model 1). Financial institutions operating in Turkey are required to identify U.S. taxpayers by January 1, 2017 and to report the information for 2017 and the subsequent years. The agreement is reciprocal: Turkish financial accounts hold in U.S. financial institutions will be reported to Turkish authorities.

Further Information