Türkiye’s Law No. 7412 (the Law) regarding the establishment of Istanbul Finance Center (IFC) was published in the Official Gazette on 28 June 2022. The Law was enacted without any changes to the proposed Bill. For more details, see EY Global Tax Alert, Türkiye introduces Istanbul Finance Center, dated 9 June 2022.

Under the Law, participants who operate in the office area, have a participation cer…