Executive summary

On 13 July 2021, Turkey’s Ministry of Treasury and Finance published General Communiqué No.529 on Tax Procedural Law (the Communiqué) in the Official Gazette. The Communiqué entered into force on the same date.

The Communiqué sets forth the taxpayers who are required to declare the ultimate beneficial owner (UBO), as well as the format of the declaration, the period to be declared,…