Turkey introduced transfer pricing legislation and an advance pricing agreement (APA) procedure for the first time in the new Corporate Income Tax Act 5520 of 21 June 2006 (hereinafter: the Act). Although the transfer pricing legislation entered into force on 1 January 2007, the APA procedure generally applies from 1 January 2008. This note examines and clarifies the procedural rules of the new APA regime that are contained in the Act.