Turkish tax authorities have launched an investigation into nearly 4,600 professional athletes, uncovering more than $134 million in undeclared income for 2024, with footballers accounting for the lion’s share, CNBC-e Turkish edition reported on Thursday.
The probe by the Risk Analysis Center of Turkey’s Tax Inspection Board began after the March deadline for filing income tax returns. Tax authorities reviewed open-source and financial data to cross-check declared earnings with actual income across multiple sports, including football, basketball and volleyball, the finance ministry said.
Roughly 3.7 billion Turkish lira (about $94 million) of the undeclared income was linked to football players, followed by 1.15 billion lira ($29.2 million) tied to basketball players. Athletes from other sports accounted for the remaining amount.
As part of the investigation, 310 athletes have been formally invited to explain discrepancies in their 2024 declarations.
Foreign players are also under scrutiny. The ministry has alerted clubs about international athletes, especially those expected to leave Turkey at the end of the season, urging them to ensure players meet their tax obligations before departure.
Turkey ranked 10th worldwide in football transfer spending in 2024, with its clubs investing $198 million in incoming players, according to FIFA’s Global Transfer Report released in February.
The country also placed 12th in transfer revenue, earning $164 million from outgoing deals. With 402 players arriving from abroad, Turkey ranked 9th globally in international incoming transfers. It placed 15th in player exports, with 319 outgoing transfers.
Finance Minister Mehmet Şimşek talked about the importance of voluntary compliance but warned that those who fail to address discrepancies after being notified would face penalties.
Since Şimşek took office in June 2023, he has been trying to increase state revenues with new tax measures and savings plans amid a severe economic crisis resulting in high inflation, which currently stands at around 35 percent, a high cost of living and a loss in value of the Turkish lira.
In May 2024 the finance ministry set up a new hotline for informants who report tax evasion.