Turkey is a transcontinental country located mainly in Western Asia, with a smaller portion on the Balkan Peninsula in Southeast Europe. East Thrace, located in Europe, is separated from Anatolia by the Sea of Marmara, the Bosphorous strait and the Dardanelles (collectively called the Turkish Straits). Turkey is bordered by Greece and Bulgaria to its northwest; Georgia to its northeast; Armenia, the Azerbaijani exclave of Nakhchivan and Iran to the east; and Iraq and Syria to the south.

Capital: Ankara

Currency: Lira

Timezone: UTC+3

Corporate tax rate: 22%

Personal tax rate: 15-35%

Capital gains tax: regular tax rate with some exceptions.

VAT: 10%

Tax residence: Six months in any calendar year. However, visitors on a business assignment, visiting for holidays or health reasons are not considered tax residents, even i they visit for more than 6 months per year.

CFC Rules: Yes

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