SUBJECT
About Incorporated Company transfer of Shares.
QUESTION
We have 10 companies in total that are tied to our incorporated company shareholdings.
There haven’t been any certificates for these companies.
In accordance with Income Tax Law, providing that there is a certificate, it is subject to income tax if it is sold within 2 years
There aren’t any certificates for our companies.
If we sell our companies in the current situation, for example in the case of us selling our company of 50.000 TL capital to 100.000 TL, do we have to state a profit of 50.000 TL in our corporate tax return?
Or is there any exceptions?
(15.11.2018 09:02)
ANSWER
The company can not be sold. The partners of the company sell their ‘shares’. The profit of partners from the selling of the shares are declared as earnings and revenue to the Other. It is not possible to declare profit with corporate tax return.
Source: Ismmo
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