difference – Muhasebe News https://www.muhasebenews.com Muhasebe News Wed, 10 Jul 2019 15:09:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.5 Is there a difference between the taxation of a foreign-capitalized company and a domestic one? https://www.muhasebenews.com/en/is-there-a-difference-between-the-taxation-of-a-foreign-capitalized-company-and-a-domestic-one/ https://www.muhasebenews.com/en/is-there-a-difference-between-the-taxation-of-a-foreign-capitalized-company-and-a-domestic-one/#respond Wed, 10 Jul 2019 15:09:50 +0000 https://www.muhasebenews.com/?p=63457 Is there a difference between the taxation of a foreign-capitalized company and a domestic one?

I will establish a foreign-capitalized company.
How does the taxation procedure work for Multiple Network Marketing system (the sales model of companies such as avon, amway, herbalife)?

There isn’t any difference in the taxation of the company you mentioned.
There isn’t any application as a taxation model. Full taxpayer companies that are established in Turkey are subject to taxation in accordance with Corporate Law and VAT Law.

 

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-there-a-difference-between-the-taxation-of-a-foreign-capitalized-company-and-a-domestic-one/feed/ 0 Should we include or exclude the VAT when drawing out an invoice for exchange difference? https://www.muhasebenews.com/en/should-we-include-or-exclude-the-vat-when-drawing-out-an-invoice-for-exchange-difference/ https://www.muhasebenews.com/en/should-we-include-or-exclude-the-vat-when-drawing-out-an-invoice-for-exchange-difference/#respond Fri, 29 Mar 2019 15:30:21 +0000 https://www.muhasebenews.com/?p=53036 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

 

 

 

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/should-we-include-or-exclude-the-vat-when-drawing-out-an-invoice-for-exchange-difference/feed/ 0 Is the profit from exchange difference due to advance payment of import subject to a tax? https://www.muhasebenews.com/en/is-the-profit-from-exchange-difference-due-to-advance-payment-of-import-subject-to-a-tax/ https://www.muhasebenews.com/en/is-the-profit-from-exchange-difference-due-to-advance-payment-of-import-subject-to-a-tax/#respond Wed, 21 Nov 2018 14:30:30 +0000 https://www.muhasebenews.com/?p=39733 SUBJECT

About recording the exchange difference of advance payment of import as income.

QUESTION

We made a payment in June to bring machine from abroad.

Bill of entry date of the machine is September 4.

There is a serious exchange difference of 500.000 as of the entry date of the machine.

The firm hasn’t started full capacity output.

Is there any option other than recording this exchange difference as income?

…

(14.11.2018 13:09)

ANSWER

It should be recorded as income.

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.

 

]]> https://www.muhasebenews.com/en/is-the-profit-from-exchange-difference-due-to-advance-payment-of-import-subject-to-a-tax/feed/ 0 Is it required to invoice the exhange difference? Is VAT applied? https://www.muhasebenews.com/en/is-it-required-to-invoice-the-exhange-difference-is-vat-applied/ https://www.muhasebenews.com/en/is-it-required-to-invoice-the-exhange-difference-is-vat-applied/#respond Wed, 21 Nov 2018 06:30:27 +0000 https://www.muhasebenews.com/?p=39725 SUBJECT

About Application of VAT for exchange difference.

QUESTION

We take the commodity that are necessary for our company in raw materials and supplies from the first importer at the customs. Therefore, we pay VAT to the importer whom we get the goods from instead of the customs for this cost. The cost is paid to the importer in foreign exchange by becoming indebted. Is the exchange difference subject to VAT? If not subject to VAT, can we process the exchange difference invoiceless and by common consent? As when we negotiated with the importer company, it was stated that since we are not paying VAT for the cost of goods, there wouldn’t be any payments for exchange difference and it is not necessary to invoice the exchange difference and that we can process it mutually. (15.11.2018 09:03)

ANSWER

Exchange difference is subject to VAT.

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.

 

]]> https://www.muhasebenews.com/en/is-it-required-to-invoice-the-exhange-difference-is-vat-applied/feed/ 0 What is the legal rate of vat of exchange difference? https://www.muhasebenews.com/en/what-is-the-legal-rate-of-vat-of-exchange-difference/ https://www.muhasebenews.com/en/what-is-the-legal-rate-of-vat-of-exchange-difference/#respond Sat, 05 May 2018 09:09:32 +0000 https://www.muhasebenews.com/?p=28907 1- What is the legal rate of the transactions resulting in change of delay interest, exchange difference and tax assessment?

1.1- Delay İnterest
Exchange difference is included in the invoice belonging to the delivery and service transactions and it is liable to tax. Moreover, new delay interest resulting from the unpaid delay interest is also a factor of service assessment of forward transaction, and vat belonging to delay interest is calculated over the date when transaction is carried out.
1.2. Exchange Difference
Vat is calculated between the dates when delivery and service is made and rate is collected. In case of having exchange difference for the benefit of the buyer on the date of rate is collected, buyer is supposed to calculate vat on the date of rate is calculated for the delivery of goods and service.
1.3. Returning goods, Unfulfilled Transaction and Giving up on Transaction
If vat rate is changed due to the change in assessment, regulation transaction is supposed to be made by taking the rate of vat into consideration in the dates when delivery and the service of goods are carried out.

Source: Vat Legislation
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/what-is-the-legal-rate-of-vat-of-exchange-difference/feed/ 0