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Baykar duo tops list of highest taxpayers in Türkiye for 5th year
TR🏛️ PoliticsCenter10 days ago

Baykar duo tops list of highest taxpayers in Türkiye for 5th year

The Turkish Revenue Administration (GIB) released its list of the 100 highest individual taxpayers in Turkey for the 2025 tax year, with Baykar's executives topping the list for the fifth consecutive year. Selçuk Bayraktar, chairman of Baykar, and Haluk Bayraktar, CEO of Baykar, reported incomes of TL 2.99 billion ($63 million) and TL 2.5 billion respectively, totaling around TL 5.5 billion in combined income tax payments. Their taxes were based on corporate income tax and withholding tax from Baykar's profits. The significant increase in their tax contributions since 2021 reflects the company's export-driven growth, with exports rising from $664 million in 2021 to a record $2.2 billion in 2025. Baykar, which operates entirely with its own resources and avoids government financial support, has become a leader in Türkiye's defense and aerospace sector, signing supply agreements with 39 countries.

Turkish defense contractor Baykar’s top executives once again dominated the nation’s highest individual taxpayer list for the 2025 tax year, according to official figures released by the Turkish Revenue Administration on August 13. Selçuk Bayraktar, chairman of Baykar, and his brother Haluk Bayraktar, the company’s chief executive officer, topped the rankings with declared income tax liabilities of 2.99 billion Turkish liras ($62.6 million) and 2.50 billion liras ($52.4 million) respectively. Their combined tax payments amounted to 5.49 billion liras ($115 million), marking the fifth consecutive year they have occupied the top two positions on the list from 2021 through 2025. The data comes after the Revenue Administration evaluated income and corporate tax declarations submitted by individuals and corporations across Turkey. Alongside the Bayraktar brothers, veteran industrialist Mustafa Rahmi Koç, honorary chairman of the Koç Holding conglomerate, placed third with a declared income tax of 831 million liras ($177.5 million). State-run Ziraat Bank led the corporate tax rankings, reporting a liability of 70.39 billion liras ($1.47 billion) for the 2025 period. Selçuk and Haluk Bayraktar’s continued dominance on the taxpayer list reflects the rapid expansion of Baykar over the past several years. The company has grown into one of Turkey’s most successful exporters, particularly in the defense and aerospace sectors. Its rise has been fueled primarily by the export-driven growth model, with the majority of its revenue derived from international sales. Since initiating research and development efforts in 2003, Baykar has generated approximately 90% of its total revenue from exports. The company’s financial performance has seen a dramatic upward trajectory. Exports rose from $664 million in 2021 to $1.2 billion in 2022, reaching $1.8 billion in both 2023 and 2024 before hitting a new record of $2.2 billion in 2025. This surge has positioned Baykar as the leading exporter in Turkey’s defense and aerospace industry for the last five years. The firm has secured supply agreements with 39 countries, including 36 for its Bayraktar TB2 drones and 16 for its Bayraktar Akıncı aircraft. Baykar’s success has also been attributed to its self-sustaining business model. Unlike many firms that rely on government subsidies or financial support, Baykar has operated entirely on its own resources since inception. The company has funded its research and development, as well as production processes, through reinvestment of profits rather than taking on external debt. This approach has allowed it to maintain independence and continue expanding its technological capabilities. In addition to its drone programs, Baykar has begun exploring new frontiers in advanced technology, including space-related innovations. The company currently employs over 8,500 people across its domestic and international operations, emphasizing investment in highly skilled, technology-focused personnel. This workforce has played a crucial role in maintaining Baykar’s competitive edge in the global arms trade. The top 10 list of individual taxpayers included several other prominent figures. Fourth place went to Mehmet Sinan Tara with 676.3 million liras ($144.4 million) in declared income tax. Seventh place was held by Erman Ilıcak with 557.7 million liras ($120.2 million), while Mehmet Cengiz came in ninth with 448.7 million liras ($96.3 million). Ceyda Lale Tara rounded out the top 10 with 430.3 million liras ($92.3 million). Geographically, Istanbul accounted for the largest share of the top 100 taxpayers, with 78 individuals listed from the city. Ankara and İzmir followed, reflecting the concentration of economic activity in these urban centers. Notably, 78 of the 100 taxpayers opted not to disclose their identities, highlighting the prevalence of privacy concerns among high-income earners. As Baykar continues to expand its global footprint, the company’s influence on Turkey’s economy and defense sector is likely to grow. Its sustained success in international markets underscores the potential for Turkish private enterprises to compete on a global scale, especially within niche industries such as defense technology.

2 reports

Daily Sabah logoDaily SabahParty-alignedCenterFactual 88Objective 8510 days ago
Baykar duo tops list of highest taxpayers in Türkiye for 5th year

The Turkish Revenue Administration (GIB) released its list of the 100 highest individual taxpayers in Turkey for the 2025 tax year, with Baykar's executives topping the list for the fifth consecutive year. Selçuk Bayraktar, chairman of Baykar, and Haluk Bayraktar, CEO of Baykar, reported incomes of TL 2.99 billion ($63 million) and TL 2.5 billion respectively, totaling around TL 5.5 billion in combined income tax payments. Their taxes were based on corporate income tax and withholding tax from Baykar's profits. The significant increase in their tax contributions since 2021 reflects the company's export-driven growth, with exports rising from $664 million in 2021 to a record $2.2 billion in 2025. Baykar, which operates entirely with its own resources and avoids government financial support, has become a leader in Türkiye's defense and aerospace sector, signing supply agreements with 39 countries.

Bias read (Center): The article presents factual information about Baykar's financial contributions and export achievements without overt ideological slant. While it highlights the company's economic impact and success, it does not take a clear stance on government policies or political implications. The framing is non

Why factuality (88): This article corroborates the tax figures and timeline from the first article, adding context about the reasons behind the increased tax payments (export growth, corporate structure). It references the same official data and maintains consistency with the cross-source consensus.

Why objectivity (85): The article presents information in a balanced manner, though it includes some explanatory commentary about Baykar’s business practices. This adds context but slightly leans toward highlighting the company’s achievements and independence.

Hurriyet Daily News logoHurriyet Daily NewsParty-alignedCenterFactual 85Objective 8010 days ago
Baykar executives top taxpayers list again

Turkish defense contractor Baykar's executives, Selçuk Bayraktar and his brother Haluk Bayraktar, ranked among Turkey's top individual taxpayers for the 2025 tax year, according to official revenue data. Selçuk Bayraktar reported income tax of 2.99 billion Turkish liras ($62.6 million), while Haluk Bayraktar declared 2.50 billion liras ($52.4 million), making them the country's top earners in individual taxes. Their combined tax liability reached 5.49 billion liras ($115 million). Meanwhile, veteran industrialist Mustafa Rahmi Koç placed third, and state-run bank Ziraat Bank led in corporate tax liabilities with 70.39 billion liras ($1.47 billion). The Bayraktars' dominance in the individual taxpayer rankings continued for a fifth consecutive year.

Bias read (Center): The article presents factual financial data regarding individual and corporate tax liabilities without overt ideological framing. While it highlights the significant wealth of Baykar executives and other prominent figures, it does not explicitly criticize or praise their status, nor does it frame it

Why factuality (85): The article reports on official revenue data from Türkiye’s Revenue Administration regarding the 2025 tax year. It provides specific figures for Selçuk and Haluk Bayraktar’s income tax liabilities and mentions their consecutive years on the top taxpayer list. While no primary source is available, th

Why objectivity (80): The tone remains neutral, presenting facts about the tax rankings and the company’s financial performance. However, there is slight emphasis on Baykar’s success and self-funding model, which may hint at a positive bias toward the company.

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