Interim tax, a type of tax that enables taxpayers to pay the accrued tax within monthly or quarterly periods during a fiscal year, has specific periods known as "interim tax periods." In Turkey, interim tax periods are as follows:
January-February-March Period:
- The first interim tax period covers the months of January, February, and March. During this period, interim tax payments are calculated based on the taxpayer's income from the previous fiscal year.
April-May-June Period:
- The second interim tax period includes the months of April, May, and June. Similar to the first period, interim tax payments are determined using the taxpayer's income from the preceding fiscal year.
July-August-September Period:
- The third interim tax period comprises the months of July, August, and September. Interim tax for this period is calculated based on the taxpayer's income from the previous fiscal year.
October-November-December Period:
- The fourth and final interim tax period covers the months of October, November, and December. During this period, taxpayers make interim tax payments based on their income from the preceding fiscal year.
Interim tax periods create an important tax payment schedule for taxpayers engaged in commercial and profitable activities in Turkey. During these periods, taxpayers make interim tax payments at specific intervals without waiting for the annual tax return. These payments are adjusted based on the final tax base in the year-end tax return.
