Corporate Tax Comparison

Bermuda vs Turkey

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.

Published — Bermuda: 5/17/2025 · Turkey: 2/14/2024 · Time of Update — Bermuda: 3/31/2026 · Turkey: 10/02/2026

Base Country/Region

Compare Country/Region

Compare Corporate Tax

Bermuda

Turkey

Basic Corporate Tax Comparison

PwC World Tax Summary OECD Statistics

Published — Bermuda: 5/17/2025 · Turkey: 2/14/2024 · Time of Update — Bermuda: 3/31/2026 · Turkey: 10/02/2026

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:

Corporate income tax is paid by the end of the month in which the return is filed (30 April for a calendar-year company).

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.

CIT Estimated Payment Due Date:

Quarterly provisional tax is paid by the 17th of the second month after each quarter (17 May, 17 August, 17 November and 17 February).

Withholding Tax (WHT)

Bermuda

Turkey

Resident Withholding Tax (Dividend/Interest/Royalty):

0/0/0

Non-Resident Withholding Tax (Dividend/Interest/Royalty):

15/10/20

Value-Added Tax (VAT)

Bermuda

Turkey

General VAT Rate:

Learn More 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:

22.33%

Composite Effective Marginal Tax Rate:

9.56%

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