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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

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 include the spendings made until the storage of the goods to the cost account?

MuhasebeNews — Tue, 26 Feb 2019 13:33:54 +0000

There are additional payments for the commercial goods we bought, such as the loading, shipping, discharge, insurance of these goods.
Should we include these payments in the cost of these goods?

In accordance with Article 274 of Law on Tax Procedure, the goods will increase in value through the cost price. According to this Provision, the transportation expenses for the goods (to the workplace/ storage/store) must be included in the costs of the goods.

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.

Should we include employee’s off days when calculating the severance pay?

MuhasebeNews — Wed, 06 Feb 2019 13:49:48 +0000

Should we include an employee’s off days when calculating the severance and notice pay? For example, an employee who has been working in the office takes maternity leave for 112 days. She then takes unpaid leave for 6 months. Should we calculate the actual service period of 4 months or the total period including the off days?

Within this regard, apart from the other unpaid leaves, if s/he takes an unpaid leave again, the payments won’t be divided into 365 to find the daily amount of the nonwage payments (e.g bonus, premium.) The provision ‘’…the period during which the employment contract is suspended should not be included in the severance period. For example, the period of unpaid leave is not taken into consideration in terms of the base period…’’ takes place in the Decisions of Supreme Court 9th Chamber [5].

Is it required to include invoice showing stamp duty on VAT declaration?

MuhasebeNews — Fri, 18 Jan 2019 16:00:04 +0000

Invoices for stamp duties are issued without VAT and with Code numbered 351. Is it required to include the tax base regarding these invoices on VAT declaration 1? If so, which code should we use?

Transactions that are not subject to VAT are not included on the VAT declaration.

Is it required to include lease of a house rented for company manager in the payroll?

MuhasebeNews — Fri, 18 Jan 2019 14:00:34 +0000

Our company rented a house for the manager and paid the amount for 6 months as well as the deposit in cash. The rental agreement is effective for a year. Can I draw up a note of expenses for this transaction? How to create the accounting entry?

Gross amount of monthly rent is recognized as an expense by being added to employee’s salary. The deposit is capitalised. It is not required to draw up a note of expenses. Bank receipt is enough.

In accordance with the regulation regarding the number of employees subject to compulsory individual pension system, do we also have to include the employees who have bağkur?

MuhasebeNews — Wed, 26 Dec 2018 16:00:36 +0000

Regarding the compulsory individual pension system (CIPS) starting on 01.01.2019, do we have to include the employer when calculating the compulsory number of months for November if we are a private company? Or should we count it as 4 people with SII (Social Security Institution) + 1 person with Bağkur (social security organization for artisans and the self-employed). Or should we only look at the number of employees with SII?
(19.12.2018 )

4a employees are considered when calculating the number of employees who will benefit from CIPS.