Article – Muhasebe News

In order for companies that change their type from Ltd. to A.Ş. to be able to use the transferred VAT in A.Ş., a tax inspection is required

MuhasebeNews — Fri, 06 Dec 2024 13:03:12 +0000

With the Law No. 7524, as of August 2, 2024, the VAT amounts transferred to the next period in the VAT declarations of the companies that are divided or transferred as of August 2, 2024, must be subject to tax inspection in order to be subject to deduction by the transferee companies.

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.

How are the education-training income exemptions and reduced corporate tax applied in Türkiye?

MuhasebeNews — Wed, 06 Nov 2024 08:57:47 +0000

A letter addresses a request regarding the tax treatment of a company’s earnings from the operation of private schools under the educational tax exemption and discounted corporate tax regulations. The company has mentioned that the profits from operating an elementary school and an Anadolu High School at the Gölbaşı campus were subject to corporate tax exemption for the 2008-2013 periods. The company also inquired whether the earnings from the operation of a new Fen High School and Anadolu High School, which are being relocated to a new building, would qualify for the same exemption and discounted corporate tax benefits. In general, the relocation of existing schools is not considered a new school opening, and thus, no exemption would apply to the profits from the relocated schools. However, for the new Fen High School, it may qualify for discounted corporate tax based on the new investment incentive certificate.

Source: Revenue Administration
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.

Do those who voluntarily switch to e-Invoice have to switch to e-Ledger?

MuhasebeNews — Wed, 23 Oct 2024 13:16:39 +0000

If you do not meet the conditions in the circulars that impose the e-Ledger application, you are not required to apply for e-Ledger.

Optionally switching to e-Invoice does not impose the obligation to switch to e-Ledger.

Source: e-Fatura forum – https://forum.efatura.gov.tr/view.php?id=31365
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.

Will newly opened companies make inflation adjustments between January and June 2024?

MuhasebeNews — Tue, 27 Aug 2024 07:54:50 +0000

Will newly opened companies between January and June 2024 make inflation adjustments?

Yes, they will.

Companies that will make new openings between January and June 2024 will also subject their balance sheets dated June 30, 2024 to inflation adjustments.

Since the adjustment coefficient will be 1 for companies established in June 2024, there will be no asset to be valued within the scope of inflation adjustment, and the balance sheet created after closing records will be provided in the provisional tax annex.

Source: Istanbul Chamber of Certified Public Accountants
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.

Matters to be considered in the Inflation Adjustment of 500 Capital Accounts and an accounting record example

MuhasebeNews — Mon, 26 Aug 2024 11:24:13 +0000

Considering the structure of the capital, it is necessary to correct it by using the coefficients to be calculated within the correction dates to be determined within the framework of subparagraph (3) of paragraph (A) of Article 298 of Law No. 213 and Article 17 of the General Communiqué on Tax Procedure Law No. 555, considering its sources (formulation) such as paid in cash, contributed in kind, and later additions to the capital.

However, in accordance with paragraph (2) of Article 15 of the aforementioned General Communiqué, when reaching the amount of the capital that is the basis for correction, the funds listed in this paragraph (added to the capital) must be deducted from the capital.

Example 11: (G) Ltd. Şti. was established on 9/6/2011. The formation dates of the capital of the company in question, whose accounting period is a calendar year, as shown in its balance sheet dated 31/12/2023 and its adjusted capital after inflation adjustment are as follows.

Capital Payment Date		Paid Capital Amount (TL) (A)	Adjustment Coefficient (B)	Adjusted Amount(TL) (A x B)	Payment Form
Year	Month	Paid Capital Amount (TL) (A)	Adjustment Coefficient (B)	Adjusted Amount(TL) (A x B)	Payment Form
Establ.(2011)	June	1.000.000,00	15,37296	15.372.960,00	Cash
2012	May	500.000,00	14,22724	7.113.620,00	Cash
2014	Augsut⁴	500.000,00	12,36330	6.181.650,00	Legal Reserve
2021	November	200.000,00	0,00000	0,00	Revaluation (addition of the amount held in the fund to the capital within the scope of temporary article 31 of Tax Procedure Law No. 213)
2022	December	300.000,00	1,44223	432.669,00	Cash
Total		2.500.000,00		29.100.899,00

Within the scope of these data, the inflation adjustment difference calculated as a result of the inflation adjustment of the capital and its transfer to the records:

Pre-Adjustment Capital (TL)(A)

Post-Adjustment Capital
(TL) (B)

Inflation Adjustment Difference

(TL) (B – A)

2.500.000,00

29.100.899,00

26.600.899,00

_____________________________ / ___________________________________

698 Inflation Adjustment Calculation 26.600.899,00

502 Capital Adjustment Positive Differences 26.600.899,00

_____________________________ / ___________________________________

In this respect, the paid-in capital account in the balance sheet subject to inflation adjustment dated 31/12/2023 will be shown as follows.

Paid-in Capital 29,100,899.00 TL.

Capital 2,500,000.00 TL.

Capital Adjustment Positive Differences 26,600,899.00 TL.

Carrying the said adjusted capital to the end of the 2024/1-3 provisional tax period (first provisional tax period):

Considering that there is no change in the capital in the first provisional tax period, the adjusted paid-in capital amount of 29,100,899.00 TL will be subject to inflation adjustment by multiplying it with the carry-over coefficient. The carry-over coefficient will be found by dividing the 2024/March period PPI value by the 2023/December PPI value.

Transport Coefficient = 3,100.00 (assumption) / 2,915.02 = 1.06346

Amount Subject to Adjustment (A)	29.100.899,00
Bearing Coefficient (B)	1,06346
Adjusted Amount (A x B)	30.947.642,05

Pre-Transport Capital (TL)

(A)

Post-Transfer Capital (TL)
(B)

Inflation Adjustment Difference (TL)

(B – A)

29.100.899,00

30.947.642,05

1.846.743,05

_____________________________ / ___________________________________

698 Inflation Adjustment Calculation 1.846.743,05

502 Capital Adjustment Positive Differences 1.846.743,05

_____________________________ / ___________________________________

In this respect, the paid-in capital account in the carried balance sheet dated 31/3/2024 will be shown as follows.

Paid-in Capital 30,947,642.05 TL.

Capital 2,500,000.00 TL.

Capital Adjustment Positive Differences 28,447,642.05 TL.

Example 12: (H) Ltd. Şti. was established on 9/6/2020. The formation dates of the capital of the company in question and the calculations regarding the adjustment of the capital are as follows.

Düzeltmeye Esas Tutar (A)	770.313,60
Taşıma Katsayısı (B)	1,06346
Düzeltilmiş Tutar (A x B)	819.197,70

Pre-Transport Capital (TL)

(A)

Post-Transfer Capital (TL)
(B)(B)

Inflation Adjustment Difference (TL)

(B – A)

770.313,60

819.197,70

48.884,10

The accounting record regarding the recognition of the adjustment difference will be as follows.

_____________________________ / ___________________________________

698 Inflation Adjustment Account 48,884.10

502 Positive Capital Adjustment Differences 24.197,70

503 Negative Capital Adjustment Differences 24,686.40

_____________________________ / ___________________________________

In this respect, the paid-in capital account in the inflation adjusted balance sheet dated 31/3/2024 will be as follows.

Paid-in Capital 819.197,70 TL.

Capital 795.000,00 TL.

Positive Capital Adjustment Differences TL 24.197,70.

In the correction of the capital, the structure of the capital at the date of the correction will be taken into account, and in this context, in the case of capital decreases, it will be determined from which increase item previously added to the capital, and if the item in question is an element that needs to be corrected, this item will be subject to correction over the reduced amount.

The provision of Article 32/B of the Corporate Tax Law No. 5520 should also be taken into consideration in capital decrease transactions.

Example 13: (I) A.Ş. was established on 10/8/2015. The dates of formation of the capital of the said company, whose accounting period is calendar year, appearing in the balance sheet dated 31/12/2023 and its adjusted capital after inflation adjustment are as follows.

Capital Payment Date		Paid/Reduced Capital Amount (TL)	Capital Amount Subject to Adjustment After Reduction (TL) (A)	Adjustment Coefficient (B)	Adjusted Amount (TL) (A x B)	Payment / Reduction Method
Year	Month	Paid/Reduced Capital Amount (TL)		Adjustment Coefficient (B)	Adjusted Amount (TL) (A x B)	Payment / Reduction Method
Establ. (2015)	august	1.000.000,00	1.000.000,00	11,64006	11.640.060,00	Cash
2017	December	2.000.000,00	1.000.000,00	9,21076	9.210.760,00	Cash
2018	November⁵	-1.000.000,00	–	–	–	Cash
2021	September	2.000.000,00	1.000.000,00	3,93082	3.930.820,00	Cash
2023	June⁶	-1.000.000,00	–	–	–	Cash
Total		3.000.000,00	3.000.000,00	–	24.781.640,00	–

Accordingly, the adjusted capital and inflation adjustment difference in the taxpayer’s inflation-adjusted balance sheet dated 31/12/2023 will be as follows.

Pre-Adjustment Capital (TL) (A)	Post-Adjustment Capital (TL) (B)	Inflation Adjustment Difference(TL) (B – A)
3.000.000,00	24.781.640,00	21.781.640,00

The recognition of the difference will be as follows.

_____________________________ / ___________________________________

698 Inflation Adjustment Account 21.781.640,00

502 Positive Capital Adjustment Differences 21,781,640.00

_____________________________ / __________________________________

In this respect, the paid-in capital account in the inflation adjusted balance sheet dated 31/12/2023 will be shown as follows.

Paid-in Capital 24.781.640,00 TL.

Capital 3.000.000,00 TL.

Positive Capital Adjustment Differences TL 21.781.640,00.

On the other hand, if there are retained earnings, capital and profit reserves and funds added to the capital in the capital account, the provision of Article 32/B of the Law No. 5520 should be taken into consideration in determining the items from which the capital reduction is made.

The monetary and non-monetary assets included in the economic enterprises by type are mainly included in the lists attached to the General Communiqué on Tax Procedure Law No. 555 (Annex 1 and Annex 2). The economic assets included in the aforementioned lists are shown with the account codes in the “Uniform Chart of Accounts” for the convenience of practitioners. Economic assets that are not included in these lists are treated as the closest economic asset in the lists in terms of nature. In addition, although equity items are not included in these lists, Article 9 of the aforementioned Communiqué

Pursuant to paragraph (2), provided that there is no provision to the contrary and no determination is made in the Communiqué, equity items will be considered as “non-monetary assets” in the application of this Communiqué.

In this context, the capital completion fund transferred by the shareholders of the company, which is decided to complete the capital in accordance with Article 376 of the Turkish Commercial Code dated 13/1/2011 and numbered 6102, will be considered as a non-monetary asset and will be subject to adjustment.

On the other hand, based on the authorization given by subparagraph (8) of paragraph (A) of Article 298 of the duplicate Article (A) of the Law No. 213, the amounts that are outside the scope of Article 376 of the Law No. 6102 and followed in the capital reserves account as capital advances are considered as monetary assets and not subject to adjustment.

FOOTNOTES

4 The registration date will be taken into account for the capital increased due to profit reserves, and in our example, it is assumed that the capital increase is registered in August.

5 It is assumed that the capital decrease made on November 2018 is covered by the capital increase made in December 2017.

6 It is assumed that the capital decrease made on June 2023 is covered by the capital increase made in September 2021.

Main employer is responsible together with the sub-employer for the obligations imposed on the employer by the SSI Law

MuhasebeNews — Wed, 21 Aug 2024 07:22:53 +0000

Employer, employer’s representative, employer with whom temporary employment relationship is established and sub-employer

ARTICLE 12- Real or legal persons and institutions and organizations without legal personality who employ persons who are considered insured according to subparagraphs (a) and (c) of the first paragraph of Article 4 are employers.

The person who, on behalf of and on account of the employer, manages the work or the entire service is the employer’s representative. The term “employer” in this Law also includes the employer’s representative.

The employer’s representative and the employer with whom a temporary employment relationship is established as defined in the Labor Law No. 4857 are jointly and severally liable together with the employer for the obligations specified in this Law.

(Additional sentences: 15/7/2016-6728/46 Art.) In accordance with this Law, self-employed accountants, certified public accountants and sworn public accountants who are authorized with a written contract together with the employers are jointly and severally liable for the non-compliance of the withholding and premium service declaration to be sent to the Institution via internet, electronic and similar media with the books and records and the documents constituting the basis of these records. The procedures and principles regarding the implementation of this paragraph shall be regulated by a regulation issued by the Institution.

For those subject to subparagraph (a) of the second paragraph of Article 4 of Law No. 5510 (Former SSK), the obligations of employers specified in this Law shall be fulfilled by the labor unions and confederations or the employer employing them; for those subject to the fourth paragraph of Article 4, the obligations of employers specified in this Law shall be fulfilled by the public administrations employing them or the schools where they receive education.23

For those employed according to the Law on the Protection of Farmers’ Property dated 2/7/1941 and numbered 4081, the obligations of employers specified in this Law shall be fulfilled by the authority authorized to employ them.

The employer of the convicts and detainees employed in the facilities, workshops and similar units established within the penal execution institutions and detention houses shall be the Institution of Penal Execution Institutions and Detention Houses Labor Hostels, and the employer representatives shall be the responsible managers and supervisors of the Institution of Penal Execution Institutions and Detention Houses Labor Hostels.

A sub-employer is a third party who takes work from an employer in a work related to the production of goods or services or in parts or annexes of a work carried out in the workplace and employs insured persons assigned for this work.

Even if the insured persons are recruited and contracted through the intermediary of a third party, the main employer is liable together with the sub-employer for the obligations imposed on the employer by this Law.

Source: Social Security Law No. 5510
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.

In Türkiye interest rate is decreased from 9% to 8.5%

MuhasebeNews — Fri, 24 Feb 2023 07:23:03 +0000

The Monetary Policy Committee (MPC) has decided to reduce the policy rate (one-week repo auction rate) from 9 percent to 8.5 percent.

Although recently released data point to a stronger economic activity than anticipated, recession concerns in developed economies as a result of ongoing geopolitical risks and interest rate hikes continue. While the negative consequences of supply constraints in some sectors, particularly basic food, have been alleviated by the strategic solutions facilitated by Türkiye, the high level in producer and consumer inflation continues on an international scale. The effects of high global inflation on inflation expectations and international financial markets are closely monitored. The divergence in monetary policy steps and communications of central banks in advanced economies continue to increase due to their diverse economic outlook. It is observed that central banks continue their efforts to develop new supportive measures and tools to cope with the increasing uncertainties in financial markets. Additionally, financial markets have been adjusting their expectations that the central banks would end the rate hike cycles in the near term on the back of the recession risks.

Before the worst natural disaster of the last century, leading indicators have been pointing to a stronger domestic demand compared to foreign demand as well as an increase in the growth trend in the first quarter of 2023. The impact of the earthquake on production, consumption, employment and expectations is being extensively evaluated. While the earthquake is expected to affect economic activity in the near term, it is anticipated that it will not have a permanent impact on performance of the Turkish economy in the medium term. While share of sustainable components of economic growth increases, the stronger than expected contribution of tourism revenues to the current account balance continues throughout the year. On the other hand, domestic consumption demand, high level of energy prices and the weak economic activity in main trade partners keep the risks on current account balance alive. Sustainable current account balance is important for price stability. The rate of credit growth and allocation of funds for real economic activity purposes are closely monitored. As announced in the 2023 Monetary Policy and Liraization Strategy document, the Committee will continue to decisively use the tools supporting the effectiveness of the monetary transmission mechanism and the entire policy toolset, particularly funding channels, will be aligned with liraization targets. The Committee will prioritize the creation of supportive financial conditions in order to minimize the effects of the disaster and support the necessary recovery.

While level and underlying trend of inflation have been improved with the support of the implemented integrated policy approach, the effect of earthquake driven supply-demand imbalances on inflation is closely monitored. It has become even more important to keep financial conditions supportive to preserve the growth momentum in industrial production and the positive trend in employment after the earthquake. Accordingly, the Committee decided to reduce the policy rate by 50 basis. The Committee assessed that the current monetary policy stance after the measured reduction is adequate to support the necessary recovery in the aftermath of the earthquake by maintaining price stability and financial stability. The effects of the earthquake in the first half of 2023 will be closely monitored.

The CBRT will continue to use all available instruments decisively until strong indicators point to a permanent fall in inflation and the medium-term 5 percent target is achieved in pursuit of the primary objective of price stability. The CBRT will implement Liraization Strategy in order to create an institutional basis for permanent and sustainable price stability. Stability in the general price level will foster macroeconomic stability and financial stability through the fall in country risk premium, continuation of the reversal in currency substitution and the upward trend in foreign exchange reserves, and durable decline in financing costs. This would create a viable foundation for investment, production and employment to continue growing in a healthy and sustainable way.

The Committee will continue to take its decisions in a transparent, predictable and data-driven framework.

Source: Central Bank of the Republic of Türkiye
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.

ÖKC TSM Merkezi (Trusted Service Manager – Güvenli Servis Sağlayıcı) Nedir?

MuhasebeNews — Wed, 23 Mar 2022 08:16:00 +0000

YN ÖKC’lere yazılım-parametre yükleme, yazılım güncelleme, bu cihazları ve bu cihazlar ile birlikte veya üzerinde gerçekleştirilen kartlı işlemleri yönetme, cihazlar ile ilgili güvenli anahtar yönetimini gerçekleştirme, ön kontrol işlemlerini yapma, banka uygulaması yazılım ve parametrelerini cihaza yükleme, cihaz yaşam döngüsünü kontrol etme ve yönetme için kurulmuş terminal yönetim merkezidir.

Kaynak: GİB Yasal Uyarı: Bu içerikte yer alan bilgi, görsel, tablolar, açıklama, yorum, analiz ve bir bütün olarak içeriğin tamamı sadece genel bilgilendirme amacıyla verilmiştir. Kişi veya kuruma özel profesyonel bir bilgilendirme ve yönlendirmede bulunma amacı güdülmemiştir. Konu ile benzerlik gösterse de her işletmenin kendi özel şartları nedeniyle farklı durumları olabilir. Bu nedenle, bu yazıda belirtilen içerikte yola çıkarak işletmenizi etkileyecek herhangi bir karar alıp uygulamaya geçmeden önce, uzmanına danışmanız menfaatiniz gereğidir. Muhasebenews veya ilişkili olduğu kişi veya kurumlardan hiç biri, bu belgede yer alan bilgi, tablo, görsel, görüş ve diğer türdeki tüm içeriklerin özel veya resmi, gerçek veya tüzel kişi, kurum ve organizasyonlar tarafından kullanılması sonucunda ortaya çıkabilecek zarar veya ziyandan sorumlu değildir.

Opsiyon Sözleşmesi Nedir?

MuhasebeNews — Wed, 23 Mar 2022 07:43:00 +0000

Opsiyonu alan tarafa belirli bir vadede veya belirli bir vadeye kadar, önceden belirlenen fiyat, miktar ve nitelikte ekonomik veya finansal göstergeyi, sermaye piyasası aracını, malı, kıymetli madeni ve dövizi alma veya satma hakkı veren, satan tarafı ise yükümlü kılan sözleşmedir.

What is Turkey’s Economic Policy Response to Covid-19?

MuhasebeNews — Mon, 29 Jun 2020 12:00:05 +0000

Covid-19, a new type of coronavirus first detected on December 12, 2019 in Wuhan, China, has caused a global pandemic. As of today, it has infected more than 8 million people around the globe, and it is spreading rapidly almost in all countries.

The Investment Office sends its heartfelt condolences to people who have lost their lives due to the pandemic, and wish a quick recovery for those infected.

Thanks to the great transformation Turkey has made in the fields of services and infrastructure during the past 17 years, Turkey is well prepared to face this pandemic.

Turkey has been managing the Covid-19 situation since its inception. Policymakers, regulators, and all economic authorities are vigilantly following the developments and are taking all necessary measures to reassure the markets.

ECONOMIC STABILITY SHIELD PROGRAM

President Recep Tayyip Erdoğan announced a TRY 100 billion-Economic Stability Shield program on March 19. The package aims to secure employment, bolster the real sector, and address the prevailing concerns on liquidity and financing in the market.

Tax declaration, VAT discount, and social security payments for April, May, and June have been postponed for a period of 6 months in the following sectors: retail, iron & steel, automotive, logistics, transportation, cinema & theater, accommodation, food & beverage, textile, and event organization.

Accommodation tax will be delayed until November.

The easement rights and revenue share payments related to hotel rentals for April, May, and June have been postponed for a period of 6 months.

VAT has been lowered to 1% from 18% for a period of 3 months on domestic flights.

Principal and interest rate payments of companies having cash flow problems due to Covid-19 outbreak precautions will be postponed for a minimum of 3 months. Additional financial support will be available if required.

Inventory financing support will be available for exporters in order to protect capacity utilization rates.

Principal and interest rate payments of artisans and craftsmen to Halkbank for April, May, and June will be postponed for a period of 3 months free of interest.

The Credit Guarantee Fund limit will be increased from TRY 25 billion to TRY 50 billion. Loan priority will be channeled to companies and SMEs that need liquidity and that are showing a collateral deficit due to the negative effects of recent developments.

Social credit packages will be incentivized under the most favorable and advantageous conditions for citizens.

The mortgageable amount for houses under TRY 500,000 will be raised from 80% to 90%, meaning the minimum down payment has been reduced to 10%.

Companies that default in April, May, or June due to the measures taken against the spread of the virus will have a “force majeure” note on their credit record.

Minimum wage support will continue.

Flexible and remote working models will be utilized to allow for operations to continue efficiently.

Short Work Allowance will be facilitated, and the processes required to benefit from this opportunity will be eased and accelerated. Thus, the cost of employers will be reduced, while temporary income support will be provided to employees in workplaces that suspend its activities.

The lowest pension wage will be increased to TRY 1,500.

The Eid payment for the retired will be paid at the beginning of April.

The Ministry of Family, Labor, and Social Services will provide financial support of TRY 2 billion for needy families.

The 2-month compensation working period will be increased to 4 months to provide sustainability in employment.

Follow-up programs including social services and periodical homecare visits will be initiated for the elderly who are above 80 years old and live alone.

The maturities for repayments of rediscount credits, which will be due from April 2020 to June 2020, will be extended to October 2020 to December 2020, and the maximum maturity has been extended by 1 year. An additional 12 month-export commitment fulfillment time has been offered for the rediscount credits maturing in April, May, and June 2020.

Source: Investment Office of Republic of Turkey / Link: https://www.invest.gov.tr/en/Pages/covid19-updates-support.aspx
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.