Bermuda vs Turkey
Corporate Tax Comparison
Time of Update: Bermuda: 3/24/2026 / Turkey: 4/04/2026
Compare Bermuda and Turkey corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.
Bermuda vs Turkey Corporate Tax Comparison
Basic Corporate Tax Comparison
Corporate Income Tax (CIT)
Bermuda
Turkey
General CIT Rate:
15% (if subject to Bermuda CIT) or 0%.
General CIT Rate:
25 (financial companies up to 30%)
CIT Return Due Date:
If subject to Bermuda CIT, tax returns are proposed to be due by the 15th day of the 10th month following the fiscal year-end.
CIT Return Due Date:
The 30th day of the fourth month after the end of the fiscal year.
CIT Payment Due Date:
Upon filing the CIT return (if applicable), a 'true-up' payment considering previous estimated payments must be made no later than the due date of the return, regardless of when the return is filed.
CIT Payment Due Date:
The tax return form is due by the end of the month (i.e., for companies using the calendar year, it is before the end of April).
CIT Estimated Payment Due Date:
Taxes are paid in instalments.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
CIT Estimated Payment Due Date:
Quarterly prepayments of taxes should be paid by the 17th of the second month of each quarter.
Withholding Tax (WHT)
Bermuda
Turkey
Resident Withholding Tax (Dividend/Interest/Royalty):
0
Resident Withholding Tax (Dividend/Interest/Royalty):
0/0/0
None-Resident Withholding Tax (Dividend/Interest/Royalty):
0
None-Resident Withholding Tax (Dividend/Interest/Royalty):
15/0/20
Value-Added Tax (VAT)
Capital Gain Tax (CGT)
Bermuda
Turkey
General Capital Gain Tax Rate:
There is no VAT or sales tax in Bermuda.
General Capital Gain Tax Rate:
Capital gains are constrained by the normal corporate income tax rate.
Effective Tax Rate (ETR)
Bermuda
Turkey
Composite Effective Average Tax Rate:
0
Composite Effective Average Tax Rate:
22.33%
Composite Effective Marginal Tax Rate:
0
Composite Effective Marginal Tax Rate:
9.56%
