Make Use of Putting Equity Shares of Corporations in Writing!
WHAT ARE THE ADVANTAGES OF PUTTING EQUITY SHARES OF CORPORATIONS IN WRITING?
*If equity shares of corporations are sold off by gaining profit 2 years later after putting them into writing, they are not subject to income tax no matter how much the earnings cost.
Sample: A Corporation which had a sole stockholder and whose authorized capital was 50.000 TL put bearer stock in writing in 15.02.2014 and delivered it to the sharer.
The sharer sold his/her equity shares off in exchange for 2.000.000 TL in 16.06.2016. The sharer gained profit valuing at 1.950.000 TL by selling these equity shares off and he/she would not pay income tax.
Unless these equity shares are put in writing, the sharer should pay income tax valuing of 674.250 TL for the income valuing at 1.950.000 TL.
-In order to make use of these advantages, after the establishment of Corporation, subscribed capital should be paid and soon after the equity shares should be put in writing. The last condition is 2-year waiting period.
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.
