Turkey reveals the top 100 taxpayers of 2024; Baykar leaders secure 1st and 2nd positions
Top Taxpayers and Corporate Taxes in Turkey for 2024
In Turkey, the search for the list of the 100 largest taxpayers and their tax payments for 2024 has yielded no results. However, some notable individuals and companies have come to light, contributing significantly to the country's tax revenue.
Haluk Bayraktar, CEO of Baykar, led the charge with a staggering income tax payment of $77 million. This payment represented ₺418.46 billion ($12.73 billion) in assessed income tax. Baykar's income tax payments have seen a dramatic increase, rising approximately 18-fold since 2021. Selcuk Bayraktar, chairman of Baykar, followed closely with a record $84 million in income tax payment.
Baykar, a leading company in the defence industry, generated 90% of its 2024 revenue from exports, recording $1.8 billion. The company ranked among the top 10 companies with the highest exports for the second consecutive year.
In the corporate tax realm, Garanti Bank topped the list with ₺25.29 billion ($769.8 million) in payments, followed by Ziraat Bank with ₺20.84 billion ($634.4 million) and participation lender Kuveyt Turk ranking third with ₺12.07 billion ($367.4 million) in corporate tax payments.
Across Türkiye, a total of 1.17 million taxpayers filed corporate tax returns, while 5.13 million taxpayers filed their annual income tax returns, reporting a combined taxable income of ₺1.4 trillion ($42.6 billion). The top 100 corporate taxpayers declared an average taxable income of ₺3.7 million ($112,600).
Erman Ilicak, honorary chairman of Renaissance Holding, and Mustafa Rahmi Koc, honorary chairman of Koc Holding, also made significant contributions with income tax payments of $11.3 million and $23 million, respectively.
Despite the lack of a comprehensive list, it is clear that these prominent figures and companies play a crucial role in Turkey's tax revenue. It is also worth noting that 79 names on the top 100 taxpayers list did not wish to disclose their identities in 2024.
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