Turkey has adopted a number of tax reform measures for 2018 as introduced under Law No. 7061 of 28 November 2017, which was published in Official Gazette on 5 December 2017. Some of the key changes include:

• An increase in the corporate income tax rate from 20% to 22% for all companies in 2018, 2019, and 2020;
• A reduction in the tax exemption for capital gains from the sale of immovable propert…