Wednesday, March 16, 2022
Earnings from the operation and transfer of ships and yachts registered in the Turkish International Ship Registry are exempt from income and corporate taxes and funds.
Purchase, sale, mortgage, registration, loan, ship charter, time charter and all freight contracts related to ships and yachts to be registered in the Turkish International Ship Registry are subject to stamp duty and fees; The monies to be received due to these transactions are subject to bank and insurance transactions tax and funds.
not subject to.
The provisions of the first and second paragraphs are also applied during the transfer phase of ships and yachts to be withdrawn from the Turkish International Ship Registry and recorded in another registry or by other means. However, in case of transfer of ships over 3,000 DWT (passenger ships and 300 gross tonnage in special purpose ships) imported from abroad and registered in the Turkish International Ship Registry, to be registered in another registry or by other means, their minimum It is required to have operated as registered in the Turkish International Ship Registry for six months.
In case the ships and yachts registered in the Turkish International Ship Registry are used in hotel or restaurant management (floating hotel or restaurant), this activity cannot be considered within the scope of ship management activity, so it is not possible to benefit from the said exceptions.
Kaynak: TURMOB Guidebook of 2021 about income declaration
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