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Quarterly Gross Domestic Product, Quarter I: January-March, 2019

MuhasebeNews — Fri, 31 May 2019 14:50:49 +0000

Quarterly Gross Domestic Product, Quarter I: January-March, 2019

Gross Domestic Product (GDP) decreased by 2.6%Gross domestic product by production approach with chain linked volume index (2009=100) decreased by 2.6% compared with the same quarter of previous year in the first quarter of 2019.

Gross domestic product increased by 16% and reached 914 billion 699 million TRY at current prices.

When the activities which constitute gross domestic product were analyzed; the total value added increased by 2.5% in the agricultural sector, decreased by 4.3% in the industry sector and 10.9% in the construction sector and 4% in the services sector (wholesale and retail trade, transport, storage, accommodation and food service activities) compared with the same quarter of the previous year in the chained linked volume index.

Calendar adjusted gross domestic product in the first quarter of 2019 decreased by 2.3% compared with the same quarter of the previous year. Seasonally and calendar adjusted gross domestic product increased by 1.3% compared with the previous quarter.

Households final consumption expenditure decreased by 4.7%

Final consumption expenditure of resident households and final consumption of NPISH decreased by 4.7%, government final consumption expenditure increased by 7.2% and gross fixed capital formation decreased by 13% in the first quarter of 2019 compared with the same quarter of the previous year in the chained linked volume index.

Exports of goods and services increased by 9.5%, imports decreased by 28.8%

Exports of goods and services increased by 9.5% in the first quarter of 2019 compared with the same quarter of the previous year in the chained linked volume index, imports of goods and services decreased by 28.8%.

Compensation of employees increased by 20.9%

Compensation of employees increased by 20.9%. net operating surplus/mixed income increased by 10.8% in the first quarter of 2019 compared with the same quarter of the previous year.

The share of compensation of employees in Gross Value Added was 39.3%

The share of compensation of employees in the Gross Value Added at current prices was 39.3% in the first quarter of 2019 while it was 38.3% in the same quarter of the previous year. The share of net operating surplus/mixed income was 40.8% while it was 43.3% in the same quarter of the previous year.

The next release on this subject will be on September 2, 2019.

Source: tüik
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.

What is considered as loss when determining the gross income from immoveable property?

MuhasebeNews — Thu, 21 Mar 2019 13:45:14 +0000

Any decrease occurring in the capital itself which is subject to income from immovable property is not considered as loss and is not accepted as expense when determining the gross income amount.

Losses arising from the expenditure surplus in the calculation of the net amount of income from immovable property can be deducted from income to be declared in the following years not for more than 5 years.

There are two exceptions to this rule:

In the event of any loss resulting from deducting the amount of the rent of the house or lodging paid by the lessor from the rental income of their house, such loss cannot be subject to deduction from the income from immovable property to be obtained in the following years.

Non-deductible part of the amount corresponding to 5% of the acquisition value which has been subject to deduction of income from the immovable rented as house is not considered as an expenditure surplus.

Accordingly, it is not possible to consider an expenditure surplus as loss in these situation.

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.

Should we calculate the stamp duty on net or gross amount?

MuhasebeNews — Mon, 24 Dec 2018 17:30:36 +0000

We rented an Office for a year for sales department. The company who is the tenant draws up an invoice of TRY 5000 + VAT every month. How do we calculate the stamp duty on the Rental Agreement? Should we calculate on the net rent amount as TRY 5000 * 12 or on the gross amount as TRY 6250 * 12?

(24.12.2018 08:51)

Stamp duty is calculated yearly on the gross rent amount. 6 * TRY 250 * 12

Quarterly Gross Domestic Product, Quarter-I in Turkey: January-March, 2018

MuhasebeNews — Mon, 11 Jun 2018 11:12:16 +0000

Quarterly Gross Domestic Product, Quarter I: January-March, 2018 (In Turkey)

Gross Domestic Product (GDP) increased by 7.4% in the chain linked volume index

Gross domestic product increased by 7.4% compared with the same quarter of the previous year in the first quarter of 2018.

Gross domestic product with production method was increased by 21.9% and reached 792 billion 691 million TRY at current prices.

When the activities which constitute gross domestic product were analyzed; the total value added increased by; 4.6% in the agricultural sector, 8.8% in the industry sector, 6.9% in the construction sector, 10% in the services sector (wholesale and retail trade, transport, storage, accommodation and food service activities) compared with the same quarter of the previous year in the chained linked volume index

Calendar adjusted gross domestic product in the first quarter of 2018 increased by 7.2% compared with the same quarter of the previous year. Seasonally and calendar adjusted gross domestic product increased by 2% compared with the previous quarter.

Household final consumption expenditure increased by 11%

Final consumption expenditure of resident households and final consumption of NPISH increased by 11%, government final consumption expenditure increased by 3.4% and gross fixed capital formation increased by 9.7% in the first quarter of 2018 compared with the same quarter of the previous year in the chained linked volume index.

Exports of goods and services increased by 0.5%, imports increased by 15.6%

Exports of goods and services increased by 0.5%, imports of goods and services increased by 15.6% in the first quarter of 2018 compared with the same quarter of the previous year in the chained linked volume index.

Compensation of employees increased by 18.7%

Compensation of employees increased by 18.7% while net operating surplus/mixed income increased by 22.8% in the first quarter of 2018 compared with the same quarter of the previous year.

The share of compensation of employees in gross value added was 37.8%

The share of compensation of employees in the gross value added was 37.8% in the first quarter of 2018 while it was 38.8% in the same quarter of the previous year. The share of net operating surplus/mixed income was 44.4% while it was 44.1% in the same quarter of the previous year.

The next release on this subject will be on September 10, 2018.

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Source: TSI
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 with an expert before taking a decision based on the 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.