an – Muhasebe News

Is a power of attorney given by an old board member still valid?

MuhasebeNews — Wed, 10 Apr 2019 16:00:27 +0000

A and B persons and also the people authorized to represent and bind were changed with a decision. However, they are still members of the board of directors.

There is a valid private power of attorney which is given by the old board members that are authorized to represent and bind.

Is it possible for me to represent the company with the power of attorney of old board members and the list of authorized signatures?

If I face any criminal action because of representing the company with this power of attorney, will the old board members be responsible? (The call center advisor said that the power of attorney has to be renewed in accordance with the Tax Procedure Law and the Law on Collection Procedure of Assets)

The company management does not have a ’private power of attorney.’’ The list of authorized signatures is the legal document. As long as the list of authorized signatures stays the same, all responsibilities continue.

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.

Can airline companies make transactions with foreign exchange when making an acquisition?

MuhasebeNews — Mon, 08 Apr 2019 10:26:34 +0000

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.

Should we include or exclude the VAT when drawing out an invoice for exchange difference?

MuhasebeNews — Fri, 29 Mar 2019 15:30:21 +0000

My question is about invoices for exchange differences that occur when the prices of foreign exchange invoices of domestic sales are collected. Should we calculate the VAT by including it or additionally?

Exchange difference + VAT is calculated. The calculation is not made by including the VAT.

Example :
Exchange difference      : TRY 1.000
VAT – %18                          : TRY 180
General Total                   : TRY 1.180

How to draw up an invoice for the services we give to foreigners in Turkey?

MuhasebeNews — Mon, 25 Mar 2019 13:30:38 +0000

My taxpayer who is a self-employed architect will draw a project for a Belgium citizen in the amount of 7.500 Euros.

Is it possible for him to draw up the self – employment invoice in Euro?
How are the VAT and withholding practices?
Is it possible to make collections in cash and in person?

18% VAT is applied notwithstanding the nationality of the client.

If the client is not a taxpayer, the income tax withholding is not applied.

The collection is made through the bank.

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.

Are we required to draw up an invoice for the samples we will export?

MuhasebeNews — Tue, 05 Mar 2019 14:10:51 +0000

We want to give samples to a foreign person without charge. Do I have to draw up an invoice for these samples?

Invoices are accepted as original documents in accordance with Tax Law.

Is it required to include stamp tax on the letter of conveyance issued by an international transportation company?

MuhasebeNews — Mon, 11 Feb 2019 12:45:00 +0000

If an international transportation company issues a letter of conveyance, it is possible for that company to benefit from the stamp tax exemption?

If the agreement is made in Turkey, the stamp tax is applied.

Turnover of our company is TRY 30m. Are we supposed to sign an approval contract with a CPA?

MuhasebeNews — Mon, 21 Jan 2019 15:07:54 +0000

Net sales amount of our company in 2018 is TRY 30 million. Are we required to sign an approval contract with a CPA? If so, when?

IT IS NOT REQUIRED FOR THE ANNUAL INCOME TAX AND CORPORATE INCOME TAX DECLARATION TO BE APPROVED BY CPA’S.

Procedures and principles regarding the approval of annual income tax and corporate income tax declaration as well as the related financial statements and declarations are specified in Certified Public Accountancy and Sworn-in CPA Law numbered 3568 (Serial Number: 18) dated 30.07.1995:

‘’ Taxpayers who are obliged to give annual income tax or corporate income tax declarations (including liquidation, acquisition and transfer declarations), may have certified public accountants approve these declarations as well as attached financial statements and declarations if they want to’’ in ‘’Scope A’’ part of Section I titled ‘’Principles Regarding The Approval’’ in the aforementioned Communique,

‘’ Taxpayers may benefit from the service of approval if they WANT to, in accordance with the regulation on General Communique (Serial: 18) of Certified Public Accountancy and Sworn-in CPA Law.’’ in Article 4- Drawing Up & Cancellation of The Contract in the First Section of General Communique Serial: 20 of Certified Public Accountancy and Sworn-in CPA Law.

Within the scope of the above-mentioned explanations, it is possible for taxpayers to benefit from the approval service without being limited to any conditions if they WANT to.

On which date should we enter the invoice made out on 2018 of an export scheduled in 2019?

MuhasebeNews — Thu, 17 Jan 2019 13:53:01 +0000

We have an export business in 2018. Customs clearance of this export will be in 2019. Which date should I enter this invoice?

2- As I’m liable for E-fatura and E-defter, will I have a problem in 2019?

1- 2019

2- We think there will be no problem.

Is it more profitable to draw up an invoice in Turkey for an engineering work we will do abroad?

MuhasebeNews — Mon, 24 Dec 2018 18:00:37 +0000

There is a plan and a project work for our Traffic Engineering business in Uzbekistan (for about $5-6 million).

We will take a group of 15 people abroad for this work, service export. Should we carry out our activities regarding this work in our company in Turkey or should we establish a new company there?

Are there any tax advantages? How can we excise our income? Would there be any benefits if we took our employees through İŞKUR?

(24.12.2018 08:58)

Please get information from the Uzbekistan Consulate for the taxation system in Uzbekistan. Compare it with Turkish Taxation System. Earnings from abroad are declared in Turkey. If there are taxes paid in the related country, they are set off.

Can we cancel the statement of employment of an employee who haven’t started working on e-sigorta system?

MuhasebeNews — Mon, 24 Dec 2018 16:30:15 +0000

We declared on the SSI statement of workplace on the new file that we would employ workers. However, our employee didn’t show up to work that day and we couldn’t make an entry. We also couldn’t make an entry for another amployee for a month. The company couldn’t start its construction work. What should we do since we didn’t make an entry for the employment?

(24.12.2018 09:59)

It is possible to cancel the statement of employment on e-sigorta on the first day following the start of the employment of the employee who didn’t start working.

The Social Security Institution has solved this issue through some amendments on the Regulations on the Social Insurance Proceedings. With the amendment made on the Regulations on the Social Insurance Proceedings on the Official Gazette numbered 29812 and dated 25.08.2016, the subparagraph ‘’Within the scope of this article, employers that employ social insured persons who are subject to subparagraph (a) of the first paragraph of Article 4 of the Law are able to cancel the statements of employment of the social insured through e-sigorta until 23:59 on the first day following the start date of employment indicated on the statement of employment’’ was added.