Can premium payments made (overdue) in previous periods be stated as a discount, in Turkey?
According to the provisions of Articles 63 and 89 of the Income Tax Law, no deductions can be made even if there are premiums and insurance policies which have not been paid. It is not possible to deduct in the determination of the tax base of the period in which the payment is related by correcting the premium payments made in the previous periods.
Source: GİB
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.
