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Jurisdictional Updates 8-4-21

Turkey – Disclosure of Ultimate Beneficial Owners

General Communique No. 529 on Tax Procedural Law by Turkey’s Ministry of Treasury and Finance in force July 13 requires corporations to disclose ultimate beneficial owners to the Turkish Revenue Administration via electronic forms by the end of August. UBOs are defined as individual shareholders with shares exceeding 25% or the individuals with ultimate control or the highest managerial authority.  New tax registrations or changes in information previously reported should be declared within one month of the change.  The communique (in Turkish) can be accessed at