Accounting – Muhasebe News https://www.muhasebenews.com Muhasebe News Fri, 23 Aug 2024 07:47:37 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.5 Will companies entering liquidation in Türkiye in 2024 be required to make inflation adjustments? https://www.muhasebenews.com/en/will-companies-entering-liquidation-in-turkiye-in-2024-be-required-to-make-inflation-adjustments/ https://www.muhasebenews.com/en/will-companies-entering-liquidation-in-turkiye-in-2024-be-required-to-make-inflation-adjustments/#respond Fri, 16 Aug 2024 11:23:48 +0000 https://www.muhasebenews.com/?p=153499 Yes, companies entering liquidation during the 2024 fiscal year will be required to make inflation adjustments. If a situation arises that necessitates the submission of a tax return for a partial period due to the cessation of business within the 2024 fiscal year, the balance sheet at the end of the 2023 fiscal year will be subject to inflation adjustment.

Relevant section from the VUK 555 No. Circular:

Adjustment of the balance sheet at the end of the 2023 fiscal year in cases of cessation of business, liquidation, transfer, merger, or change of legal form after the 2023 fiscal year.

ARTICLE 28-

1. According to the provisional Article 33 of the Law No. 213, it is foreseen that the balance sheet at the end of the 2023 fiscal year will be adjusted regardless of whether the conditions are met. On the other hand, the main principles related to the continuous adjustment process are included in paragraph (A) of Article 298 (repeated) of the same Law. Accordingly, subject to the realization of the conditions, taxpayers will make adjustments for the 2024 fiscal year based on the adjusted values in the balance sheet at the end of the 2023 fiscal year, which was subject to inflation adjustment, unless otherwise regulated.

2. In cases where a liquidation decision is made before the end of the 2023 fiscal year and liquidation is concluded before this date, the balance sheet at the end of the 2023 fiscal year will not be subject to adjustment. However, if the liquidation is concluded after the 2023 fiscal year, the balance sheet at the end of the 2023 fiscal year will be adjusted.

3. If the business is discontinued within the 2024 fiscal year, the balance sheet at the end of the 2023 fiscal year will be subject to inflation adjustment due to the emergence of a situation requiring the submission of a tax return for a partial period in the new fiscal year.

4. In cases of transfer, change of legal form, full division, and merger occurring after the end of the 2023 fiscal year, the entity in which the transfer, division, or merger takes place will adjust the balance sheet at the end of the 2023 fiscal year of the disappearing company or individual enterprise for inflation.

]]> https://www.muhasebenews.com/en/will-companies-entering-liquidation-in-turkiye-in-2024-be-required-to-make-inflation-adjustments/feed/ 0 Do we have to declare our wage from a single employer? https://www.muhasebenews.com/en/do-we-have-to-declare-our-wage-from-a-single-employer/ https://www.muhasebenews.com/en/do-we-have-to-declare-our-wage-from-a-single-employer/#respond Fri, 17 May 2019 14:36:37 +0000 https://www.muhasebenews.com/?p=58430 Do we have to declare our wage from a single employer?

The annual declaration shall not be given for the wage income from a single employer and taxed by deduction, no matter the amount.

Such incomes shall not be included in the declarations of other incomes.

 

 

Source: İSMMMO
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.

]]> https://www.muhasebenews.com/en/do-we-have-to-declare-our-wage-from-a-single-employer/feed/ 0 What should we do about the invoices we received after submitting the declaration? https://www.muhasebenews.com/en/what-should-we-do-about-the-invoices-we-received-after-submitting-the-declaration/ https://www.muhasebenews.com/en/what-should-we-do-about-the-invoices-we-received-after-submitting-the-declaration/#respond Wed, 15 May 2019 14:37:21 +0000 https://www.muhasebenews.com/?p=58123 What should we do about the invoices we received after submitting the declaration?

We approved the VAT declaration of a taxpayer. VAT payment of TRY 1.922 appeared.
We then realized that they have purchase invoices which they sent through Whatsapp. TRY 400 would occur if these invoices were entered.
What should we do in this case?

You have to submit a correction declaration.

 

 

Source: İSMMMO
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.

]]> https://www.muhasebenews.com/en/what-should-we-do-about-the-invoices-we-received-after-submitting-the-declaration/feed/ 0 When does the period for bringing the export revenue to the country start? https://www.muhasebenews.com/en/when-does-the-period-for-bringing-the-export-revenue-to-the-country-start/ https://www.muhasebenews.com/en/when-does-the-period-for-bringing-the-export-revenue-to-the-country-start/#respond Tue, 07 May 2019 15:02:59 +0000 https://www.muhasebenews.com/?p=57163 When does the period for bringing the export revenue to the country start?

One of our clients is in the business of temporary export goods.
We’ve been told that the client agreed with their organiser abroad on the selling of temporary export goods.
The definite export has been recognized today.
When does the period for bringing the export revenue to the country start?

The 180-day period starts as of today.

 

 

Source: İSMMMO
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.

]]> https://www.muhasebenews.com/en/when-does-the-period-for-bringing-the-export-revenue-to-the-country-start/feed/ 0 Our stock ledger got lost. We notarised a new one instead. Can we enter the last shareholding structure in the new stock ledger? https://www.muhasebenews.com/en/our-stock-ledger-got-lost-we-notarised-a-new-one-instead-can-we-enter-the-last-shareholding-structure-in-the-new-stock-ledger/ https://www.muhasebenews.com/en/our-stock-ledger-got-lost-we-notarised-a-new-one-instead-can-we-enter-the-last-shareholding-structure-in-the-new-stock-ledger/#respond Fri, 03 May 2019 14:48:33 +0000 https://www.muhasebenews.com/?p=56766 Can we enter the last shareholding structure in the new stock ledger?

Our stock ledger of 2012 is lost. We notarised it in 2013 again. Now, we need to document the shareholding structure of 2012. Is it possible to enter the shareholding structure of 2012 in the stock ledger of 2013?

It is a legal obligation to enter the shareholding structure in the stock ledger as it changes. It is not possible to update it every year if there is no change in the shareholding structure. On the other hand, it may be possible to enter the last shareholding structure by stating that the stock ledger of the previous year is lost and that the shareholding structure has been notarised in 2013. This way, it may also be possible to obtain the letter about the shareholding structure from trade registry. Although share transfers in joint-stock companies are not subject to registration, it is known that the document is submitted with the general board’s list of attendants attachment of that date after the situation is explained.

 

 

 

Source: İSMMMO
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.

]]> https://www.muhasebenews.com/en/our-stock-ledger-got-lost-we-notarised-a-new-one-instead-can-we-enter-the-last-shareholding-structure-in-the-new-stock-ledger/feed/ 0 Can there be deductions from the worker’s wage for the losses? https://www.muhasebenews.com/en/can-there-be-deductions-from-the-workers-wage-for-the-losses/ https://www.muhasebenews.com/en/can-there-be-deductions-from-the-workers-wage-for-the-losses/#respond Mon, 08 Apr 2019 12:26:34 +0000 https://www.muhasebenews.com/?p=39707 SUBJECT

About cutting back on the worker’s wage due to loss.

QUESTION
…
There are construction contract works we do as a subcontractor.
We employ a lot of workers in sites.
There are a lot of entrances to and exits from the site.
There are workers we employ in these sites according to score method.
We make a lot of expenses when emloying these workers, such as medical examination, uniform etc.
These people don’t come to work 1-2 days after the start date of employment.
The expenses we make for these people return to us as losses.
We want to cut back on that person’s wage for the expenses we make.
How should we proceed in order to not have any difficulties in terms of both the personnel and SSI (Social Security Institution)
…
(13.11.2018 15:19)

ANSWER
There can be deductions from the equipment, uniforms etc. that are given to the worker only for the losses.

 

Source: Ismmmo
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.

 

]]> https://www.muhasebenews.com/en/can-there-be-deductions-from-the-workers-wage-for-the-losses/feed/ 0 Can airline companies make transactions with foreign exchange when making an acquisition? https://www.muhasebenews.com/en/can-airline-companies-make-transactions-with-foreign-exchange-when-making-an-acquisition-2/ https://www.muhasebenews.com/en/can-airline-companies-make-transactions-with-foreign-exchange-when-making-an-acquisition-2/#respond Mon, 08 Apr 2019 10:26:34 +0000 https://www.muhasebenews.com/?p=39716 SUBJECT

About airline companies making transactions with foreign exchange.

QUESTION

…I’m working for an airline company. In accordance with article 17 of the notice published on 6th of October 2018 regarding the decision numbered 32 about Protection of the Value of Turkish Currency, can we accept all purchase agreements in foreign currency except for real estate selling, leasing and labor agreements without considering if the service provider abides by the exceptions?

(13.11.2018 12:18)

ANSWER

We think that you can make transactions in foreign currency.

Source: Ismmo
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.

 

]]> https://www.muhasebenews.com/en/can-airline-companies-make-transactions-with-foreign-exchange-when-making-an-acquisition-2/feed/ 0 Is a board member of a foreign Inc. required to obtain a work permit? https://www.muhasebenews.com/en/is-a-board-member-of-a-foreign-inc-required-to-obtain-a-work-permit/ https://www.muhasebenews.com/en/is-a-board-member-of-a-foreign-inc-required-to-obtain-a-work-permit/#respond Mon, 08 Apr 2019 08:26:49 +0000 https://www.muhasebenews.com/?p=39719 SUBJECT

About foreign board members obtaining a work permit.

QUESTION         

Inc. with 3 partners
2 partners are foreign
1 partner is Turkish

All shares are transferred to one of the partners.
The number of board members is dropped to a single person.

This foreign person have also become the chairman of the board.
Is this person required to obtain a work permit?

(13.11.2018 11:56)

ANSWER

It is evaluated that board members in incorporated companies are not required to obtain work permit and that in the case of working de facto and residing in our country continuously, it is beneficial for these members to get certificate of residence and work permit certificate.

 

Source: SSI
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.

 

]]> https://www.muhasebenews.com/en/is-a-board-member-of-a-foreign-inc-required-to-obtain-a-work-permit/feed/ 0 Is it possible to write off the investments for the rental office as expense at once? https://www.muhasebenews.com/en/is-it-possible-to-write-off-the-investments-for-the-rental-office-as-expense-at-once/ https://www.muhasebenews.com/en/is-it-possible-to-write-off-the-investments-for-the-rental-office-as-expense-at-once/#respond Wed, 03 Apr 2019 15:19:18 +0000 https://www.muhasebenews.com/?p=53450 Is it possible to write off at once the reparation, maintenance and renovation expenses of our rental warehouse and office of our company that does construction material business?

The investment is entered in 264 account. It is written off as an expense by extending it over the rent period.

Explanation of the 264 Special Costs Account: It includes the expenses made for the development of the leased rental properties or to continuingly increase their economic value and the amounts of the assets that are made for the usage of the real estate property and will be left to the landlord at the end of the rental agreement.

Functioning of the 264 Special Costs Account: The expenses are entered to this account as debt. These amounts are redeemed in equal amounts in the rent period or in 5 years if the rent period is more than 5 years.

 

 

 

Source: İSMMMO
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.

]]> https://www.muhasebenews.com/en/is-it-possible-to-write-off-the-investments-for-the-rental-office-as-expense-at-once/feed/ 0 Am I supposed to submit annual income statement for my income from a single employer in Turkey? https://www.muhasebenews.com/en/am-i-supposed-to-submit-annual-income-statement-for-my-income-from-a-single-employer-in-turkey/ https://www.muhasebenews.com/en/am-i-supposed-to-submit-annual-income-statement-for-my-income-from-a-single-employer-in-turkey/#respond Sat, 30 Mar 2019 08:00:01 +0000 https://www.muhasebenews.com/?p=53042 A taxpayer who has business income on real taxation system in 2018 also works in a company as a 4A employee. Is this person also supposed to include their income from wages on the income statement they will submit for their business earnings?

If the income is earned from a single employer, it is not written on the annual income statement notwithstanding the amount.

 

 

 

Source: İSMMMO
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.

]]> https://www.muhasebenews.com/en/am-i-supposed-to-submit-annual-income-statement-for-my-income-from-a-single-employer-in-turkey/feed/ 0