However some specific taxes are levied by municipalities, with the amount determined by centrally issued legislation.
Taxation system in Turkey is regulated by the Tax Procedure (TP) Law.
It regulates the rights, burdens, carrying out duties along with principals of accrual.
The TP has five main sections: taxation, taxpayer duties, valuation, penalty provisions and tax cases.
The meaning of income is the net amount of revenues derived by a person within a year.
This tax is paid by banks, bankers and insurance companies, regardless of the nature of the transaction, they are all subject to BITT.
Foreigners who do not have permanent residency are liable to this tax on assets located in Turkey.
There is a progressive tax rate that varies from 10% to 30% and 1% to 10% on the items received as gift or inherited.
Taxpayers are civil and legal persons who own motor vehicles registered in their own names in the traffic register and civil aviation records kept by the Ministry of Transport, Maritime Affairs and Communications.