Iceland vs Turkey
Corporate Tax Comparison
Time of Update: Iceland: 4/04/2026 / Turkey: 4/04/2026
Compare Iceland and Turkey corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.
Iceland vs Turkey Corporate Tax Comparison
Basic Corporate Tax Comparison
Corporate Income Tax (CIT)
Iceland
Turkey
General CIT Rate:
20 (for LLCs and limited partnerships); 37.6 (for other entities)
General CIT Rate:
25 (financial companies up to 30%)
CIT Return Due Date:
31 May
CIT Return Due Date:
The 30th day of the fourth month after the end of the fiscal year.
CIT Payment Due Date:
November 1st and December 1st
CIT Payment Due Date:
The tax return form is due by the end of the month (i.e., for companies using the calendar year, it is before the end of April).
CIT Estimated Payment Due Date:
Except for January and October, prepayments should be made on the first day of each month.
CIT Estimated Payment Due Date:
Quarterly prepayments of taxes should be paid by the 17th of the second month of each quarter.
Withholding Tax (WHT)
Iceland
Turkey
Resident Withholding Tax (Dividend/Interest/Royalty):
22/22/0
Resident Withholding Tax (Dividend/Interest/Royalty):
0/0/0
None-Resident Withholding Tax (Dividend/Interest/Royalty):
21/13/22
None-Resident Withholding Tax (Dividend/Interest/Royalty):
15/0/20
Value-Added Tax (VAT)
Capital Gain Tax (CGT)
Iceland
Turkey
General Capital Gain Tax Rate:
20 (for corporations, same as CIT rate for LLCs); 22 (for individuals)
General Capital Gain Tax Rate:
Capital gains are constrained by the normal corporate income tax rate.
Effective Tax Rate (ETR)
Iceland
Turkey
Composite Effective Average Tax Rate:
18.79%
Composite Effective Average Tax Rate:
22.33%
Composite Effective Marginal Tax Rate:
14.93%
Composite Effective Marginal Tax Rate:
9.56%
