Turkiye: Introduced Law No. 7524 implementing OECD/G20 Pillar Two

On 16 July 2024, the Grand National Assembly of Türkiye introduced the Law on Amendments to Tax Laws and Certain Laws (2 / 2290). The amendments to Income Tax Law No. 193 and Corporate Income Tax Law No. 5520 introduce a domestic minimum corporate income tax and implement a global minimum corporate income tax per OECD’s Pillar 2 applicable to multinational enterprise groups which meet the applicable thresholds.