Turkey's Revenue Administration has announced the publication of Law No. 7420 in the Official Gazette on 9 November 2022, which includes various measures in relation to personal income tax benefits. Measures include:
In addition to the personal income tax measures, Law No. 7420 also includes certain corporate income tax measures. This includes that the corporate income tax exemption for earnings accrued from Turkish lira (TRY) deposit and participation accounts converted from foreign currency is extended until the end of 2023.