Tax – Muhasebe News https://www.muhasebenews.com Muhasebe News Sat, 20 Jan 2024 20:30:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 Do I need to be a manufacturer to make free zone sales within Türkiye? https://www.muhasebenews.com/en/do-i-need-to-be-a-manufacturer-to-make-free-zone-sales-within-turkiye/ https://www.muhasebenews.com/en/do-i-need-to-be-a-manufacturer-to-make-free-zone-sales-within-turkiye/#respond Sat, 20 Jan 2024 20:30:52 +0000 https://www.muhasebenews.com/?p=148796 Do I have to be a manufacturer to be able to invoice the free zone in Türkiye? Can those who buy and sell also issue invoices? Do we need a capacity report to issue invoices?

There is no obligation to be a manufacturer. Any taxpayer can sell goods and services to the free zone from Türkiye.

In order to issue an export registered sales invoice, it is necessary to be a manufacturer and have a capacity report and industrial registry certificate.

 

 

Source:
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-i-need-to-be-a-manufacturer-to-make-free-zone-sales-within-turkiye/feed/ 0 Are sales made from the Free Zone in Türkiye counted as exports? https://www.muhasebenews.com/en/are-sales-made-from-the-free-zone-in-turkiye-counted-as-exports/ https://www.muhasebenews.com/en/are-sales-made-from-the-free-zone-in-turkiye-counted-as-exports/#respond Sat, 20 Jan 2024 20:27:16 +0000 https://www.muhasebenews.com/?p=148794 Can we benefit from the deduction in Article 32/8 of the Corporate Tax Law for the profits obtained from the sales of goods abroad and subcontracting work from the Free Zone in Türkiye? Or should the export be made abroad?

32/8 of the Turkish Corporate Tax Law (KVK). The article is about manufacturers. KVK 32/7. KV in the article (related to Export) is paid with a 5% discount (20%). Sales in the free zone are subject to export.

 

 

Source:
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/are-sales-made-from-the-free-zone-in-turkiye-counted-as-exports/feed/ 0 Can the bar association fees of the lawyers on the payroll of a self-employed lawyer be written off as expense? https://www.muhasebenews.com/en/can-the-bar-association-fees-of-the-lawyers-on-the-payroll-of-a-self-employed-lawyer-be-written-off-as-expense/ https://www.muhasebenews.com/en/can-the-bar-association-fees-of-the-lawyers-on-the-payroll-of-a-self-employed-lawyer-be-written-off-as-expense/#respond Sat, 20 Jan 2024 06:18:27 +0000 https://www.muhasebenews.com/?p=148762 Can the bar association fees paid by lawyers for the lawyers they employ be written off as expenses?

It cannot be written.

Source:
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-the-bar-association-fees-of-the-lawyers-on-the-payroll-of-a-self-employed-lawyer-be-written-off-as-expense/feed/ 0 Will the e-Archive Invoice issued by mistake after the objection and correction period have passed be recorded? https://www.muhasebenews.com/en/will-the-e-archive-invoice-issued-by-mistake-after-the-objection-and-correction-period-have-passed-be-recorded/ https://www.muhasebenews.com/en/will-the-e-archive-invoice-issued-by-mistake-after-the-objection-and-correction-period-have-passed-be-recorded/#respond Fri, 19 Jan 2024 21:09:45 +0000 https://www.muhasebenews.com/?p=148757 We noticed that e-Archive was issued to e-Invoice taxpayer about 1 month ago. The other party cannot cancel this invoice. Will there be a problem for the accounting office to record this invoice?

The invoice is recorded. If this situation is detected in the future, VUK 353/1. Special irregularity penalties are applied according to the article.

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Sales invoices that are issued incorrectly and cannot be canceled should not be recorded and should be kept for 5 years to be presented upon request.

Although the relevant invoice has been successfully transmitted on the e-Invoice system, the invoices that are considered to have been issued even though there is no actual purchase of goods or services are not required to be recorded in the legal book records by the addressee. It is also possible to correct accounting records. As substantiating information and documents of the correction records in question, information and documents regarding the systemic or external objections made by the addressee will be kept together with the accounting records to be presented to the relevant parties and will be submitted when requested.

 

Source:
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/will-the-e-archive-invoice-issued-by-mistake-after-the-objection-and-correction-period-have-passed-be-recorded/feed/ 0 Are foreign companies which open a branch in Turkey subject to corporate tax? https://www.muhasebenews.com/en/are-foreign-companies-which-open-a-branch-in-turkey-subject-to-corporate-tax/ https://www.muhasebenews.com/en/are-foreign-companies-which-open-a-branch-in-turkey-subject-to-corporate-tax/#respond Wed, 03 Jul 2019 12:51:00 +0000 https://www.muhasebenews.com/?p=62749 Are foreign companies which open a branch in Turkey subject to corporate tax?


A company which is based in a foreign country wants to open a branch in Turkey.
Is it possible for its representative in Turkey to be a foreigner?
Since the company will make sales in Turkey, would it be subject to corporate tax?
Also, is it supposed to notarize the books?

 

The branch to be opened in Turkey will be subject to corporate tax as a ‘’limited taxpayer.’’
All notifications and declarations must be submitted.
In accordance with the Tax Procedure Law (TPL), commercial books must be notarized before the business starts.
The representative in Turkey must be ‘’a resident’’ in Turkey regardless of their nationality.

 

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/are-foreign-companies-which-open-a-branch-in-turkey-subject-to-corporate-tax/feed/ 0 Is it possible for the medical invoices to be subject to deduction in the rental income declaration? https://www.muhasebenews.com/en/is-it-possible-for-the-medical-invoices-to-be-subject-to-deduction-in-the-rental-income-declaration/ https://www.muhasebenews.com/en/is-it-possible-for-the-medical-invoices-to-be-subject-to-deduction-in-the-rental-income-declaration/#respond Tue, 14 May 2019 14:23:28 +0000 https://www.muhasebenews.com/?p=57973 Is it possible for the medical invoices to be subject to deduction in the rental income declaration?

I had surgery in a private hospital. It says on the medical invoice that is it exempt from VAT and Corporate tax.
Is it possible to deduct the medical invoice in the rental income declaration?

It is not possible to deduct it.
The Party who prepares the invoice shall be subject to Income Tax or Corporate Tax.
Paragraph 2 of Article 89 of Income Tax Law is submitted below.

Education an health expenses of the taxpayer, their spouse, children and workers who benefit from tax discount due to education and health expenses in accordance with repeating Article 121 can not deduct these expenses from tax base by benefitting from this provision on condition that the expenses do not exceed the 10% of the declared income, are made in Turkey and are authenticated with documents taken from real or legal persons who are subject to INCOME or CORPORATE tax.

 

 

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-for-the-medical-invoices-to-be-subject-to-deduction-in-the-rental-income-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 Tax Incentives in Turkey – Exemption of Investment Deduction https://www.muhasebenews.com/en/tax-incentives-in-turkey-exemption-of-investment-deduction/ https://www.muhasebenews.com/en/tax-incentives-in-turkey-exemption-of-investment-deduction/#respond Mon, 06 May 2019 15:02:56 +0000 https://www.muhasebenews.com/?p=57014 Tax Incentives in Turkey – Exemption of Investment Deduction

Being valid from 01.01.2006, with the Law numbered 5479, Article 19 of the Income Tax Law headed “Exemption of Investment Deduction on Business and Agricultural Earnings” has been abolished, and Temporary Article 69, attached to this Law, regulates the transition period implementations. According to this;

  • Exemption amount which could not be deducted before the date of 01.01.2006, by reason of insufficient earnings in previous years,• Exemptions which will be calculated on account of investment expenditures which is done after the date of 01.01.2006 within the context of incentive certificates based on applications submitted before the date of 24.04.2003 for the investments which begun within the framework of Additional Articles1-6 of the Income Tax Law abolished previously,

    • Exemptions which will be calculated on account of investment expenditures following the date of 01.01.2006, given that providing economic and technical integrity with investments which began before the date of 01.01.2006 within the scope of Article 19 of Income Tax law,

can be deducted as exemption of investment deduction.

(Income Tax Law a.19; Income Tax Law Temporary Article 61; Income Tax Law Temporary Article 65; Income Tax Law Temporary Article 69; Income Tax Circular/1; Income Tax Circular/22; Income Tax Circular/23; Income Tax Circular/32)

 

 

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.

]]> https://www.muhasebenews.com/en/tax-incentives-in-turkey-exemption-of-investment-deduction/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 Sectoral Confidence Indices, April 2019 https://www.muhasebenews.com/en/sectoral-confidence-indices-april-2019/ https://www.muhasebenews.com/en/sectoral-confidence-indices-april-2019/#respond Fri, 26 Apr 2019 14:03:42 +0000 https://www.muhasebenews.com/?p=55982 Sectoral Confidence Indices, April 2019

Source: TÜİK
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.

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