Foreign companies may enjoy corporate tax exemptions until Jan. 1, 2022, if they decided to establish their regional headquarters in Turkey by Jan. 1, 2019.

The decision was revealed in a Ministry of Finance's Corporate Tax General communique published in the Official Gazette.

Companies establishing regional headquarters after Jan. 1, 2019 will not benefit from the tax exemption.

Meanwhile, some regulations were also made regarding the corporate taxpayers whose legal entity was removed from the trade registry via liquidation.

In this context, the relevant provisions of the Tax Procedures Code will be taken into consideration in all tax assessments and penalties to be issued after March 27, 2018, regarding pre-liquidation and liquidation periods.