Revenue Administration

The Treasury and Finance Ministry has initiated an investigation into athletes with substantial earnings who have failed to declare their income, examining the earnings of 1,900 individuals across various sports disciplines.

As part of a broader wave of tax audits, the ministry has now shifted its attention to professional athletes.

As part of its effort to keep a tight eye on taxpayers who make large incomes and lead lavish lifestyles yet fail to pay the proper taxes, the Treasury and Finance Ministry has commenced tracking transactions of luxury yachts and boats.

Customers who fail to obtain an invoice or receipt would face a fine of 5,000 Turkish Liras, according to a draft law notice released by the country's Revenue Administration and published in the Official Gazette.

Treasury and Finance Minister Mehmet Şimşek has stated that his ministry will release the names of taxpayers with outstanding tax liabilities and penalties amounting to 5 million Turkish Liras ($146,750) or more to the public.

Selçuk Bayraktar, chairman and chief technology officer (CTO) of Türkiye's leading drone maker Baykar, topped the list of highest-income taxpayers in 2023, the country's Revenue Administration said on Aug. 28.

Last year, 1.95 billion Turkish Liras ($52.4 million) of income tax accrued to Selçuk Bayraktar.

In a sweeping effort to combat tax evasion, Türkiye's Treasury and Finance Ministry has identified approximately 700,000 taxpayers who failed to declare their rental income, despite being reminded to do so.

The crackdown comes as a part of a broader initiative to reduce informality in the economy and ensure tax compliance across the country.

The government will soon introduce practices to streamline bureaucratic processes for taxpayers, Treasury and Finance Minister Mehmet Şimşek has announced.

Şimşek said the Revenue Administration is working on a series of draft communiqués that will provide convenience to taxpayers, and the drafts will soon be made public for input and opinions.

Treasury and Finance Minister Mehmet Şimşek has refuted reports that the Value Added Tax (VAT) rate on food will be increased.

"We have not raised VAT rates! We are taking steps to prevent abuse," Şimşek wrote on X, quoting a news report on his ministry's preparation on a regulation regarding services in restaurants and cafes.

As applications are now open for Youth and Sports Ministry-affiliated university dormitories, a digital assessment by 12 public institutions will take precedence, with special consideration granted to students affected by recent earthquakes.

The Treasury and Finance Ministry has made a tax deduction of about 90 million Turkish Liras from more than 10,000 YouTubers.

A simple taxation procedure has been introduced for those who produce content on social media and develop mobile applications.