Ankara: Trkiye has released its annual list of the nation’s top taxpayers, with Selcuk Bayraktar, chairman of Baykar, an unmanned aerial vehicle producer, securing the top position due to the company’s significant export revenues.
According to Anadolu Agency, the Revenue Administration’s list for 2024 ranks Haluk Bayraktar, Baykar’s CEO, in second place, marking the fourth consecutive year Baykar executives have dominated the top spots. In 2024, Selcuk Bayraktar paid 2.76 billion Turkish liras ($84 million) in income tax, while Haluk Bayraktar contributed 2.53 billion liras ($77 million). The tax contributions from the Bayraktars have increased approximately 18-fold since 2021, primarily due to Baykar’s export revenues.
Baykar has established itself as a leading exporter in the defense and aviation sector, with export activities constituting 90% of its 2024 revenue. The company achieved $1.8 billion in exports last year, placing it among Trkiye’s top 10 companies with the highest exports for the second consecutive year.
The third-ranked taxpayer chose not to disclose their identity, while Mustafa Rahmi Koc, the honorary chairman of Koc Holding, ranked fourth with 757.75 million liras ($23 million). Several other high-ranking taxpayers, specifically in the 3rd, 5th, 6th, 7th, 8th, and 9th positions, also opted for anonymity. Erman Ilicak, the honorary chairman of Renaissance Holding, secured the 10th position with 372.7 million liras ($11.3 million).
Out of the top 100 taxpayers, 79 individuals preferred to keep their identities confidential. They declared an average taxable income of 274,288 liras ($8,349), with an average income tax of 81,526 liras ($2,481) assessed. Nationwide, 5.13 million taxpayers filed annual income tax returns within the same timeframe, reporting a total taxable income of 1.4 trillion liras ($42.6 billion), resulting in 418.46 billion liras ($12.73 billion) in assessed income tax.
On the corporate tax front, Garanti Bank, a private lender, topped the list with 25.29 billion liras ($769.8 million) in taxes. Ziraat Bank, a state-run institution, followed with 20.84 billion liras ($634.4 million), while Kuveyt Turk, a participation lender, ranked third with 12.07 billion liras ($367.4 million). The USD/TRY exchange rate averaged 32.85 throughout 2024.