Tax Regulation

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Legal status for tax regulation:

Pursuant to the provisional Article 74 added to the Law dated 31/12/1960 and numbered 193 with Law dated 04.06.2008 and numbered 5766; all the grants and aid provided to Istanbul 2010 European Capital of Culture Agency in cash or kind and all sponsorship expenditures incurred shall be reduced from revenues stated in the income declaration statement of the institution provided that it is shown separately in a corporate income declaration.

‘Pursuant to subparagraph 5 added to Article 12 of the Law dated 02.11.2007 and numbered 5706 with the Law dated 04.06.2008 and numbered 5766; transactions in which the Agency is a party to shall be exempt from fees and duties and the documents issued for such transactions shall be exempt from stamp duty.’