Revenue Administration
Information
DOCUMENTATION REQUIREMENT FOR PURCHASES OF GOODS OR SERVICES OVER 7,000 TL
(It has been prepared by taking into account the changes made with the Tax Procedure Law General Communiqué No. 572 published on October 18, 2024.)
Those Within the Scope of Documentation Requirement
-Self-Employed
-First and Second Class Traders
-Farmers Keeping Books
-Those Whose Earnings Are Determined by Simple Method
-Tradesmen Exempt from Tax
-Those Who Are Not Taxpayers (Including Final Consumers)
Scope and Amount of Documentation Requirement
Those within the scope of documentation requirement, including final consumers, shall make their collections and payments for all kinds of goods or services over 7,000 TL through intermediary financial institutions and they are required to document these collections and payments with documents issued by the relevant institutions.
Collections and payments regarding motor vehicles and motor vehicle rental services subject to registration by those engaged in vehicle rental activities must be documented with documents issued by intermediary financial institutions, regardless of the 7,000 lira limit.
Non-taxpayers, including consumers, are not required to document the transactions they will make among themselves.
Intermediary Financial Institutions
-Banks
-Payment institutions authorized under the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions
-Postal and Telegraph Organization Joint Stock Company
Documentation in Installment Transactions
If the total amount of the goods or services exceeds 7,000 liras, each collection and payment must be made through intermediary financial institutions, even if the installment amounts are below this limit.
Collections and Payments Made with the Same Person or Institutions on the Same Day
If the total amount of transactions made with the same person or institutions on the same day exceeds 7,000 liras, even if each transaction is below the limit determined on a transaction basis, the collection and payments subject to the transaction must be made through intermediary financial institutions starting from the transaction it exceeds.
Punishment Application
For each of those who do not comply with the obligation to document, in 2024 for each transaction;
-First class merchants (balance sheet basis) and freelancers shall be subject to a special irregularity penalty of not less than 20,000 TL,
-Second class merchants (business account basis), farmers who keep books and those whose earnings are determined by the simple method shall be subject to a special irregularity penalty of not less than 10,000 TL,
-For those other than those listed above, not less than 5,000 TL,
10% of the amount subject to the transaction shall be subject to a special irregularity penalty.
EXAMPLE:
The final consumer (A) purchased a gold bracelet worth 25,000 TL from the jeweler and paid the entire amount in cash.
10% of the amount subject to the transaction (25,000 TL X 0.10) = 2,500 TL
In this case, since 2,500 TL is below the minimum penalty amounts determined for 2024, a special irregularity penalty shall be subject to a special irregularity penalty.
*To the final consumer: 5,000 TL
*To the seller
-Balance Sheet Basis 20,000 TL
-Business Account Basis 10,000 TL
Source: Revenue Administration – https://www.gib.gov.tr/sites/default/files/fileadmin/haberler/tevzor_infografik.pdf
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
