Bayraktar duo of drone powerhouse Baykar again top taxpayers in Türkiye
Baku, August 20, AZERTAC
The brothers behind the world-renowned drone maker Baykar again topped the list of top taxpayers in Türkiye in 2024, a statement said on Wednesday.
According to Daily Sabah, Selcuk Bayraktar, the board chair of Baykar, ranked first, having paid TL 2.76 billion ($84 million) in income tax last year, the Revenue Administration said.
He was followed by his brother and the general manager of Baykar, Haluk Bayraktar, who paid TL 2.53 billion.
The duo has thus managed to top the list for four consecutive years.
The amount of tax paid by Bayraktars has increased by approximately 18 times since 2021. Their streak is largely driven by Baykar's soaring export revenues, which accounted for 90% of its turnover in 2024 alone.
The company achieved $1.8 billion in overseas sales last year, ranking among the country's top 10 companies with the highest exports for the second consecutive year.
Baykar's success in the defense and aerospace sectors has made both Bayraktar brothers dominant figures in Türkiye, as well as in the global drone market.
The company is known for its Bayraktar TB2 tactical unmanned combat aerial vehicle (UCAV), which gained global prominence after being used by Ukraine's military against Russian forces as well as in campaigns in Azerbaijan and North Africa.
Baykar has also developed Akıncı, a high-altitude, long-endurance combat drone, and TB3, which has become the first armed UCAV capable of operating from short-runway ships.
The company is also working on the first unmanned fighter jet, Kızılelma.
Baykar has become one of the most prolific drone exporters worldwide, with TB2 and Akıncı drones sold to more than 35 countries.
The taxpayer in third place did not wish to have their name disclosed, while the fourth was Mustafa Rahmi Koç, honorary chair of Turkish conglomerate Koç Holding, with TL 757.75 million.
The taxpayers in the third, fifth, sixth, seventh, eighth and ninth positions also did not wish to disclose their names.
Erman Ilıcak, honorary chair of another Turkish conglomerate, Renaissance Holding, ranked 10th with TL 372.7 million.
On the corporate side, private lender Garanti Bank ranked first on the list, having paid TL 25.29 billion in taxes in 2024.
State-run lender Ziraat Bank came in second with TL 20.84 billion, while participation lender Küveyt Türk ranked third with TL 12.07 billion.
The U.S. dollar-Turkish lira exchange rate was at 32.85 on average during 2024.
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