Based on the application of our foundation, according to Article 20 of Law No. 4962 dated 30.07.2003 on the letter of the Ministry of Finance dated 08.05.2009 and numbered 48107, our foundation has gained "Tax Exemption Status" with the decision of the Council of Ministers dated 26.09.2011 and numbered 2011/2292. 1- Following subparagraph 4 of the first paragraph of Article 89 of the Income Tax Law, donations and aid made to associations and foundations working for the public benefit against receipt in order not to exceed 5 percent of the income to be declared annually (10% in regions with priority in development) are deducted from the revenues to be reported in the income tax return. According to subparagraph 1/b of Article 14 of the Corporate Tax Law, up to 5% of the total amount of donations and aids made to associations and foundations deemed beneficial to public interests against receipt may be deducted from corporate earnings for that year.
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