Double Taxation Agreement (DTA) is an agreement between two or more countries for the avoidance of double taxation.
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):
There are 3 ways for jusrisdictions to exchange information on tax matters:
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.
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):
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):
Turkey didn't sign the automatic information exchange agreement but made a commitment to start the automatic information exchange in September 2018.
Turkey has not singed any bilateral agreements to automatically receive information.
Turkey has not singed any bilateral agreements to automatically send information.
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.