TURKISH GOVERNMENT REDUCES FREIGHT TAXES
TURKISH GOVERNMENT REDUCES FREIGHT TAXES
The Turkish government has reduced income taxes on outbound freight
earnings for carriers loading in the country’s ports.
The tax was reduced from about 7.2 percent to 6.6 percent. About 15
percent of the transport costs is considered to be taxable income in Turkey.
"This reduction brings the tax back down to the level collected up
to the end of last year before they increased the tax by about 8 percent," said
Thomas Timlen of the Baltic and International Maritime Council, which represents numerous
ocean carriers and ship agents operating in Turkish ports.
Carriers based in 38 countries benefit from double taxation avoidance
agreements established with Turkey. This exempts them from paying the Turkish government
income taxes on freight.