Türkiye’s Ministry of Treasury and Finance Issues Ruling Enabling Ride-Hailing Drivers to Pay Taxes on Income Earned from Ride-Hailing Platforms
Marti Technologies (NYSE American: MRT), Türkiye's leading mobility super app, announced a significant development in the ride-hailing sector. The Ministry of Treasury and Finance has issued a ruling enabling ride-hailing drivers to pay income taxes on their earnings through the Marti app. This decision requires drivers to establish corporate entities in compliance with Türkiye's tax code.
CEO Oguz Alper Oktem views this as a positive step towards confirming the legality of ride-hailing driver income. The ruling allows Marti to digitally collect and transmit information about rides, income, and tax obligations to the authorities. To support this transition, Marti is offering legal guidance and financial support to drivers in setting up corporate entities.
McKinsey & Company estimates the potential Turkish ride-hailing market size at $15-20 billion by 2030. Marti projects that the sector could generate around $2 billion in annual tax revenue at steady state, addressing the issue of tax leakage prevalent in the traditional taxi sector.
Marti Technologies (NYSE American: MRT), l'app super mobilità leader in Turchia, ha annunciato uno sviluppo significativo nel settore del ride-hailing. Il Ministero del Tesoro e delle Finanze ha emesso un decreto che consente ai driver di ride-hailing di pagare le imposte sul reddito attraverso l'app Marti. Questa decisione richiede ai conducenti di costituire enti aziendali in conformità con il codice fiscale della Turchia.
Il CEO Oguz Alper Oktem considera ciò un passo positivo per confermare la legalità del reddito dei driver di ride-hailing. Il decreto permette a Marti di raccogliere e trasmettere digitalmente informazioni sui viaggi, sul reddito e sugli obblighi fiscali alle autorità. Per supportare questa transizione, Marti offre assistenza legale e supporto finanziario ai conducenti nella creazione di enti aziendali.
McKinsey & Company stima che la dimensione potenziale del mercato turco del ride-hailing potrebbe raggiungere i 15-20 miliardi di dollari entro il 2030. Marti prevede che il settore potrebbe generare circa 2 miliardi di dollari di entrate fiscali annuali in uno stato di stabile, affrontando il problema della fuoriuscita fiscale prevalente nel settore tradizionale dei taxi.
Marti Technologies (NYSE American: MRT), la aplicación de movilidad líder de Turquía, anunció un desarrollo significativo en el sector de transporte por solicitud. El Ministerio de Hacienda y Finanzas emitió un fallo que permite a los conductores de transporte por solicitud pagar impuestos sobre la renta a través de la aplicación Marti. Esta decisión requiere que los conductores establezcan entidades corporativas de acuerdo con el código fiscal de Turquía.
El CEO Oguz Alper Oktem considera esto un paso positivo hacia la confirmación de la legalidad de los ingresos de los conductores de transporte por solicitud. La resolución permite que Marti recolecte y transmita digitalmente información sobre los viajes, ingresos y obligaciones fiscales a las autoridades. Para apoyar esta transición, Marti ofrece asesoría legal y apoyo financiero a los conductores en la creación de entidades corporativas.
McKinsey & Company estima que el tamaño potencial del mercado de transporte por solicitud en Turquía alcanzará entre 15 y 20 mil millones de dólares para 2030. Marti proyecta que el sector podría generar alrededor de 2 mil millones de dólares en ingresos fiscales anuales en un estado estable, abordando el problema de la fuga fiscal prevalente en el sector tradicional de taxis.
Marti Technologies (NYSE American: MRT), 터키의 선도적인 모빌리티 슈퍼 앱이 승차 호출 부문에서 중요한 발전을 발표했습니다. 재무부에서 승차 호출 기사들이 그들의 수익에 대한 소득세를 Marti 앱을 통해 납부할 수 있도록 하는 판결을 내렸습니다. 이 결정은 기사들이 터키의 세법에 따라 법인체를 설립하도록 요구합니다.
CEO인 Oguz Alper Oktem은 이를 승차 호출 기사 수익의 합법성을 확인하는 긍정적인 단계로 보고 있습니다. 이 판결은 Marti가 승차, 수익 및 세금 의무에 대한 정보를 당국에 디지털 방식으로 수집하고 전달할 수 있도록 합니다. 이 전환을 지원하기 위해 Marti는 기사들이 법인체를 설정하는 데 필요한 법적 조언 및 재정 지원을 제공하고 있습니다.
McKinsey & Company는 2030년까지 터키의 승차 호출 시장 규모가 150억에서 200억 달러에 이를 것으로 추정하고 있습니다. Marti는 이 분야가 안정적인 상태에서 매년 약 20억 달러의 세수 수입을 창출할 수 있을 것으로 예상하며, 전통적인 택시 부문에서 발생하는 세금 유출 문제를 해결하고 있습니다.
Marti Technologies (NYSE American: MRT), l'application de super mobilité leader en Turquie, a annoncé un développement significatif dans le secteur des véhicules à la demande. Le Ministère des Finances a rendu un arrêté permettant aux conducteurs de véhicules à la demande de payer des impôts sur le revenu via l'application Marti. Cette décision nécessite que les conducteurs établissent des entités juridiques conformément au code fiscal turc.
Le PDG Oguz Alper Oktem considère cela comme un pas positif vers la confirmation de la légalité des revenus des conducteurs de véhicules à la demande. L'arrêté permet à Marti de collecter et de transmettre numériquement des informations sur les trajets, les revenus et les obligations fiscales aux autorités. Pour soutenir cette transition, Marti offre des conseils juridiques et un soutien financier aux conducteurs pour la création d'entités juridiques.
McKinsey & Company estime que la taille potentielle du marché de transport à la demande en Turquie pourrait atteindre 15 à 20 milliards de dollars d'ici 2030. Marti prévoit que le secteur pourrait générer environ 2 milliards de dollars de recettes fiscales annuelles en situation stable, abordant ainsi le problème de l'évasion fiscale répandu dans le secteur traditionnel des taxis.
Marti Technologies (NYSE American: MRT), die führende Mobilitäts-Super-App in der Türkei, hat eine bedeutende Entwicklung im Ride-Hailing-Sektor bekannt gegeben. Das Ministerium für Schatz und Finanzen hat eine Regelung erlassen, die es Fahrern von Ride-Hailing-Diensten erlaubt, Einkommensteuer auf ihre Einnahmen über die Marti-App zu zahlen. Diese Entscheidung erfordert, dass Fahrer Unternehmensstrukturen gemäß dem türkischen Steuergesetz aufbauen.
CEO Oguz Alper Oktem sieht dies als positiven Schritt zur Bestätigung der Rechtmäßigkeit des Einkommens von Fahrern im Ride-Hailing. Die Regelung ermöglicht es Marti, Informationen über Fahrten, Einnahmen und Steuerverpflichtungen digital zu sammeln und an die Behörden zu übermitteln. Um diesen Übergang zu unterstützen, bietet Marti rechtliche Beratung und finanzielle Unterstützung für Fahrer bei der Gründung von Unternehmensstrukturen an.
McKinsey & Company schätzt die potentielle Marktgröße für Ride-Hailing in der Türkei bis 2030 auf 15 bis 20 Milliarden Dollar. Marti prognostiziert, dass dieser Sektor im stabilen Zustand jährlich rund 2 Milliarden Dollar an Steuereinnahmen generieren könnte und somit das Problem der Steuerverluste im traditionellen Taxi-Sektor angeht.
- Ministry of Treasury and Finance ruling enables ride-hailing drivers to pay income taxes, potentially legitimizing the industry
- Marti can now digitally collect and transmit ride and income information to tax authorities
- Potential Turkish ride-hailing market estimated at $15-20 billion by 2030
- Ride-hailing sector could generate $2 billion in annual tax revenue at steady state
- Ride-hailing drivers required to set up corporate entities to comply with tax regulations, potentially increasing administrative burden
Insights
This ruling marks a significant milestone for Türkiye's ride-hailing industry, potentially legitimizing and formalizing a sector that has operated in a legal gray area. The requirement for drivers to establish corporate entities suggests a move towards professionalization of the industry. This could lead to
The MTF's ruling represents a pivotal legal framework for the ride-hailing industry in Türkiye. By mandating corporate entity formation for drivers, it addresses tax compliance issues while indirectly acknowledging the legitimacy of ride-hailing services. This move could pave the way for comprehensive regulation of the sector. Marti's proactive approach in offering legal guidance to drivers demonstrates regulatory alignment and could foster goodwill with authorities. However, the company must navigate carefully to ensure full compliance and avoid potential legal pitfalls. This development may also set a precedent for other gig economy sectors in Türkiye, potentially leading to broader regulatory changes.
This regulatory development could reshape the competitive landscape of Türkiye's ride-hailing market. Marti's first-mover advantage in assisting drivers with compliance could strengthen its market position and driver loyalty. The formalization of the sector might attract more investment and potentially new market entrants, intensifying competition. Consumer perception could improve with increased legitimacy, potentially expanding the user base. However, if compliance costs are passed on to consumers, it might impact price-sensitive segments. The projected market size of
The ruling, which requires that ride-hailing drivers set up corporate entities in compliance with Türkiye’s tax code in order to pay taxes on their income, is a positive step towards clarifying the legality of ride-hailing driver income.
Founder and CEO of Marti, Oguz Alper Oktem, said, “We launched our ride-hailing business twenty two months ago to fulfill the need for affordable, fast, and safe transportation solutions in Türkiye’s largest cities. Demand, and the growth of the service, has exceeded our original optimistic expectations – signalling to us that ride-hailing will be an integral part of urban planning moving forward. We view this ruling as a significant step towards confirmation of those expectations, as government authorities also begin to recognize the ancillary benefits to the broader economy and national budget that would come with fulsome regulation.”
The ruling enables Marti to digitally collect and transmit information regarding rides completed, income earned, and the resulting tax obligations of its ride-hailing drivers to the MTF. In order to facilitate the collection and transmission of this information to the MTF in line with Türkiye’s tax code and the ruling, Marti has begun offering legal guidance and financial support to its ride-hailing drivers to set up corporate entities.
McKinsey & Company, a consultancy group, estimates the potential size of the Turkish ride-hailing market in 2030 at
(*) Expectations and targets are not necessarily indicative of future attainment.
About Marti:
Founded in 2018, Marti is Türkiye’s leading mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure. For more information, visit www.marti.tech.
Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, also known as the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact and generally relate to future events, hopes, intentions, strategies, or performance may be deemed to be forward-looking statements, including but without limitation statements regarding the anticipated growth, including the potential size of the Turkish ride-hailing market, size of the expected annual tax revenue for the MTF, the legality of ride-hailing driver income, and the expected future performance and market opportunities of Marti and the ride-hailing business. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “might,” “possible,” “believe,” “predict,” “potential,” “continue,” “aim,” “strive,” and similar expressions may identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expressed or implied forwarding-looking statements, including, but not limited to: (i) the effect of the public listing of our securities on our business relationships, performance, financial condition and business generally, (ii) risks that the business combination may disrupt our current plans or divert management’s attention from our ongoing business operations, (iii) the outcome of any legal proceedings that may be instituted against us or our directors or officers related to the business combination or otherwise, (iv) our ability to maintain the listing of our securities on the NYSE American, (v) volatility in the price of our securities due to a variety of factors, including without limitation changes in the competitive and highly regulated industries in which we plan to operate, variations in competitors’ performance and success and changes in laws and regulations affecting our business, (vi) our ability to implement business plans, forecasts, and other expectations, and identify opportunities, (vii) the risk of downturns in the highly competitive tech-enabled mobility services industry, (viii) our ability to build our brand and consumers’ recognition, acceptance and adoption of our brand, (ix) the risk that we may not be able to effectively manage our growth, including our design, research, development and maintenance capabilities, (x) technological changes and risks associated with doing business in an emerging market, (xi) risks relating to our dependence on and use of certain intellectual property and technology and (xii) and other important factors and risks discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2024, as such factors and risks may be updated from time to time in the Company’s other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Company’s website at https://ir.marti.tech. Any investors should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC as most of the factors are outside the Company’s control and are difficult to predict. As a result, the Company’s actual results may differ from its expectations, estimates and projections and consequently, such forward-looking statements should not be relied upon as predictions of future events. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as to management expectations and beliefs as of the date they are made. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
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Investor Contact
Marti Technologies, Inc.
Turgut Yilmaz
investor.relations@marti.tech
Source: Marti Technologies, Inc.
FAQ
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