Newsletters
The Bayraktar brothers, who lead Turkish defense and aerospace company Baykar, ranked as Türkiye’s two highest income taxpayers for 2025, with Selcuk Bayraktar taking first place and Haluk Bayraktar following in second for a fifth consecutive year.
Selcuk Bayraktar declared ₺2.99 billion ($75.7 million) in income tax, while Haluk Bayraktar declared ₺2.5 billion ($63.3 million), bringing their combined tax bill to ₺5.49 billion, according to the Revenue Administration’s annual income tax rankings.
The two executives have held the top two positions every year since 2021.
Their continued presence at the top of the rankings comes alongside Baykar’s export-driven growth. Baykar set a new export record in 2025, generating $2.2 billion in exports of domestically produced unmanned aerial vehicles.
The company’s exports rose from $664 million in 2021 to $1.2 billion in 2022 and $1.8 billion in both 2023 and 2024 before reaching the new high in 2025.
Baykar has led Türkiye’s defense and aerospace exports for the past five years and remains among the country’s 10 largest exporters across all sectors for a third consecutive year.
The company has signed export agreements with 39 countries, including contracts covering the Bayraktar TB2 with 36 countries and the Bayraktar Akinci with 16 countries.
Mustafa Rahmi Koc, honorary chairman of Türkiye’s largest industrial conglomerate, Koc Holding, ranked third among the country’s top income taxpayers with ₺830.8 million in assessed income tax.
Mehmet Sinan Tara, chairman of construction and engineering group ENKA, ranked fourth with ₺676.3 million, while Ronesans Holding founder and chairman Erman Ilicak ranked seventh with ₺557.7 million.
Cengiz Holding Chairman Mehmet Cengiz ranked ninth with ₺448.7 million, followed by Tara Holding shareholder and board member Ceyda Lale Tara in 10th place with ₺430.3 million.
Cengiz Holding shareholders and board members Ahmet Cengiz and Ekrem Cengiz ranked 12th and 17th with ₺417.5 million and ₺397.5 million, respectively, while Koc Holding Chairman Mehmet Omer Koc ranked 13th with ₺415 million. Veli Ergin Imre ranked 20th with ₺297.8 million.
Ziraat Bank ranked first among corporate taxpayers for 2025 with ₺70.4 billion in assessed corporate tax. VakifBank ranked third with ₺22.9 billion, while the institution in second place did not disclose its name.
A total of 5.59 million taxpayers filed annual income tax returns for the 2025 tax period, declaring ₺2.39 trillion in tax base.
The Revenue Administration assessed ₺710.6 billion in income tax on that base. The average taxpayer declared a tax base of ₺428,651, while the average assessed income tax reached ₺127,187.
3 min read
Set as preferred source
