International tax laws affecting Turkey
The Convention on Mutual Administrative Assistance in Tax Matters, signed by Turkey on November 3, 2011, has been ratified.
Certain articles of the Convention on Mutual Administrative Assistance in Tax Matters were amended extensively as per the protocol prepared by the OECD and the European Council in
1988 and signed in 2010.
The convention has been signed by 111 countries and came into force in most of these countries. Some of the highlights of the agreement are as follows:
The main goals of the convention are to organise co-operation between tax authorities and to enhance the coordination of activites aimed at preventing tax avoidance. The cooperation between states include the exchange of information and simultaneous tax inspections overseas. The Revenue Administration published a detailed announcement on the QIS forms that Switzerland’s
Federal Administration of Public Revenues has requested from persons who earn retirement pensions in Switzerland and reside in Turkey.
The Investment Protection Agreement signed between Guatemala and Turkey was approved by Guatemala’s Congress on April 25, 2017. Turkey and Moldova signed a Social Security and Administrative Regulation Agreement on May 5, 2017 in Chisinau.
A platform has been created for the Automatic Exchange of Information portal to share processes that may negatively affect the smooth operation of the OECD Country-by-Country Reports. The platform became active on May 5, 2017, with the first information shared about retirement practices in Hong Kong and China.