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March 23, 2022
Turkey’s TP documentation requirement deadlines are approaching
The Turkish government imposes transfer pricing (TP) obligations on taxpayers that must be met at the time of corporate tax filings. The due date for filing the Turkish annual corporation tax return for fiscal year 2021 is 30 April 2022. All taxpayers must fill out a form in regard to transfer pricing, controlled foreign corporations and thin capitalization to be sent to their relevant tax offices together with the corporation tax return.
All corporate taxpayers that have cross-border related party transactions are also obliged to prepare their local annual TP report (Local File).
The Local File is not required to be attached to the corporation tax return. However, it must be prepared by the due date of the corporation tax return (i.e., 30 April 2022 for FY2021) and submitted to the related tax office and/or tax inspectors upon an official request.
Below are the taxpayers that are obliged to prepare their Local File by 30 April 2022:
The Local File should be prepared in the Turkish language or, if already prepared in a foreign language, should be translated into Turkish.
For additional information with respect to this Alert, please contact the following:
Kuzey Yeminli Mali Müsavirlik A.S., Istanbul
Ernst & Young LLP (United States), Turkish Tax Desk, New York