Minimum corporate tax rules: a preparation checklist for groups
How the domestic minimum corporate tax and global minimum tax rules introduced by Law No. 7524 affect reporting processes.
Law No. 7524, published in the Official Gazette of 2 August 2024, added two major structures to corporate taxation: a domestic minimum corporate tax and global minimum tax rules targeting multinational groups.
Domestic minimum tax
The domestic minimum corporate tax sets a floor calculated at 10 per cent of corporate income before deductions and exemptions. The deductions and exemptions that may still be taken into account are listed separately in the Law.
Global minimum tax
Top-up tax rules targeting a 15 per cent effective tax rate have been introduced for multinational groups whose consolidated revenue exceeds a set threshold. They require intensive preparation in terms of data collection and reporting.
Our suggestion: gather the group structure and country-by-country tax data in one table, model the effect of incentives and exemptions separately, and allocate reporting responsibilities between finance and legal in writing.
This note is for general information; tax positions require separate assessment in light of the latest secondary legislation.
This content is for general information and is not a substitute for legal advice.