Turkey Tops Tax Complexity Index


By Global Tax Weekly

A new index on tax complexity around the world was published recently, courtesy of TMF Group, the international professional services firm. There were few surprises therein. The top-end of the index featured the usual rogues’ gallery of fiendishly complicated tax systems, many of which were found in Latin America, where taxpayers often contend with three layers of taxation – federal, state/regional, and municipal.

The only surprise perhaps was that Brazil, infamous for its tax complexity, as noted here last week, wasn’t top of the overall league table. That unwanted accolade went to Turkey, mostly because of extensive local language and currency requirements, and a long and frequently changing tax code. In short, don’t think about navigating the Turkish tax code without the services of a knowledgeable local guide, according to TMF. Istanbul is no longer Byzantium by name, but the nation’s tax rules certainly seem Byzantine by nature.

Normal order could be restored, however, when, according to TMF, Turkey reduces the number of articles in the tax code by 200 to 321 as it attempts to align tax processes with those of the European Union, which the country hopes to eventually join – at which point Brazil will probably be restored to the top of the table.

It was also quite predictable that Italy and Greece should figure at the top end of TMF’s tax complexity index, with Italy deemed the most complicated place in Europe for companies to figure out their taxes by TMF.


For more information on this, and other topical international tax matters, please visit: https://www.cchgroup.com/roles/corporations/international-solutions/research/global-tax-weekly-a-closer-look





Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>



RELATED ARTICLES AND INFORMATION

Australia Announces Budget Measures

The Australian Government announced in its Budget that it would be bringing forward personal tax cuts that had been scheduled for 2022.

The Australian authorities...

UK Clarifies VAT Rules

In the UK, while things are gearing up to get more complicated on pretty much all fronts, the tax authority sought to provide clarity...

Australia Focussing On COVID-19 Compliance

In Australia, the ATO is highlighting non-compliance by some businesses with the rules regarding eligibility for providing JobKeeper payments.

The JobKeeper Payment scheme is a...