
International Tax Bulletin: 24.08.2021/16
International Tax Bulletin: 24.08.2021/16
With the Tax Procedure Law No. 529 General Communiqué, corporate taxpayers and other persons and institutions specified in the Communiqué are obliged to report the Ultimate Beneficial Ownership (UBO) information to the Revenue Administration.
Accordingly, following persons will be considered as the Ultimate Beneficial Owners of legal entities and will be subject to notification:
In addition, following persons will be considered as the UBOs of other organizations such as unincorporated business partnerships and will be subject to notification:
It is envisaged that those who have the title of founders, trustees, managers, auditors or beneficiaries or those who have influence over these organizations are to be accepted as the UBOs in Trust and similar entities.
All taxpayers and other persons, including corporate taxpayers who are obliged to report, are required to notify the UBO information to the Revenue Administration in electronic form, by the end of 31.08.2021, with the Form specified to be published in the Communiqué.
The aforementioned Notification Form can be reached in the 'Other Notification and Information Entries' menu in the Internet Tax Office.
Kind Regards,