law – Muhasebe News https://www.muhasebenews.com Muhasebe News Fri, 20 Dec 2019 07:51:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 Turkey adopts law raising tax revenue from high earners https://www.muhasebenews.com/en/turkey-adopts-law-raising-tax-revenue-from-high-earners/ https://www.muhasebenews.com/en/turkey-adopts-law-raising-tax-revenue-from-high-earners/#respond Mon, 02 Dec 2019 10:00:20 +0000 https://www.muhasebenews.com/?p=72046 Turkey adopts law raising tax revenue from high earners

According to the news of Daily Sabah, the Turkish Parliament ratified on Thursday new laws on tax regulation including higher rates for high earners and hotel accommodation, as well as new taxes on digital services.

The law aims to collect “more tax from those earning more and less from those earning less.”

The law proposes new taxes – namely a valuable house tax and accommodation tax. The regulation includes a new tax bracket of 40%, from the previous 35%, for those earning more than TL 500,000 annually, according to the final text of the regulation.

Houses that cost more than TL 5 million will be subject to a valuable residence tax, under the regulation. Namely, owners of homes worth between TL 5 and TL 7.5 million will pay 0.3% tax, while a 0.6% tax will be applied on houses worth between TL 7.5 million and TL 10 million and houses worth over TL 10 million will be taxed 1%.

The tax on accommodation services will be 1% until the end of 2020 and will rise to 2% afterwards. It will be applied on the revenue and will be paid by in-house guests.

The regulation also sees a 7.5% tax on digital advertising and content. The digital services tax will include all manners of online advertisements and services that allow any digital content to be listened, watched or downloaded, according to the new regulations.

The law also lifts the tax exception on sports referees. Moreover, the stoppage collected from athletes’ revenues will be raised to 20% from 15%.

The law will be first debated by Parliament’s planning and budget committee.

Source: Daily Sabah / link: https://www.dailysabah.com/economy/2019/11/22/parliament-adopts-new-taxes-on-digital-services-accommodation-valuable-houses
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/turkey-adopts-law-raising-tax-revenue-from-high-earners/feed/ 0 Is it possible for a seaman to be subject to severance pay if he terminates the service contract unilaterally due to not being paid? https://www.muhasebenews.com/en/is-it-possible-for-a-seaman-to-be-subject-to-severance-pay-if-he-terminates-the-service-contract-unilaterally-due-to-not-being-paid/ https://www.muhasebenews.com/en/is-it-possible-for-a-seaman-to-be-subject-to-severance-pay-if-he-terminates-the-service-contract-unilaterally-due-to-not-being-paid/#respond Mon, 24 Jun 2019 15:22:40 +0000 https://www.muhasebenews.com/?p=61944 Is it possible for a seaman to be subject to severance pay if he terminates the service contract unilaterally due to not being paid?

In accordance with Article 20 and Subparagraph II of Article 14 of Maritime Law numbered 854, if a seaman terminates the service contract unilaterally due to not being paid, he will be subject to severance pay.

 

 

Source: Ministry of Labor and Social Security
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-possible-for-a-seaman-to-be-subject-to-severance-pay-if-he-terminates-the-service-contract-unilaterally-due-to-not-being-paid/feed/ 0 Is it possible for seamen who has to work for 11 months and 15 days to become entitled to severance pay? https://www.muhasebenews.com/en/is-it-possible-for-seamen-who-has-to-work-for-11-months-and-15-days-to-become-entitled-to-severance-pay/ https://www.muhasebenews.com/en/is-it-possible-for-seamen-who-has-to-work-for-11-months-and-15-days-to-become-entitled-to-severance-pay/#respond Fri, 14 Jun 2019 14:54:41 +0000 https://www.muhasebenews.com/?p=60694 In accordance with Maritime Law, is it possible for seamen who has to work for 11 months and 15 days to become entitled to severance pay?

In accordance with Maritime Law, it is not possible for seamen who have to work for 11 months and 15 days to become entitled to severance pay. In accordance with Article 20 of Maritime Law numbered 854, in order to be entitled to severance pay the service period must be at least 1 year.

 

 

Source: Ministry of Labor and Social Security
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-possible-for-seamen-who-has-to-work-for-11-months-and-15-days-to-become-entitled-to-severance-pay/feed/ 0 Which Law sets forth the principles and procedures regarding the work permit for foreigners in Turkey? https://www.muhasebenews.com/en/which-law-sets-forth-the-principles-and-procedures-regarding-the-work-permit-for-foreigners-in-turkey/ https://www.muhasebenews.com/en/which-law-sets-forth-the-principles-and-procedures-regarding-the-work-permit-for-foreigners-in-turkey/#respond Thu, 18 Apr 2019 15:01:49 +0000 https://www.muhasebenews.com/?p=55157 Which Law sets forth the principles and procedures regarding the work permit for foreigners in Turkey?

Law on Work Permit for Foreigners numbered 4817 that regulates the principles and procedures regarding the work permit for foreigners in Turkey entered into force on 06.09.2003 following its publication on Official Gazette numbered 25040 and dated 06.03.2003.

In accordance with Article 5 of the Law, work permits for a definite period are given based on the duration of the foreigner’s residence permit, duration of the service contract or work and to be employed in a specific workplace or business.

In accordance with Article 7 of Regulation of the Law; except for the residence permits for education purposes, foreigners who have residence permits at least for 6 months for any purpose and whose permit has not expired can apply for a work permit directly to the Ministry of Labor and Social Security in Turkey. Otherwise, the foreigner can apply for work permit abroad through the Turkish Republic representative offices.

 

 

 

Source: YOİK
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/which-law-sets-forth-the-principles-and-procedures-regarding-the-work-permit-for-foreigners-in-turkey/feed/ 0 Who are subject to Law on Work Permit for Foreigners? https://www.muhasebenews.com/en/who-are-subject-to-law-on-work-permit-for-foreigners/ https://www.muhasebenews.com/en/who-are-subject-to-law-on-work-permit-for-foreigners/#respond Wed, 10 Apr 2019 15:13:48 +0000 https://www.muhasebenews.com/?p=54255 Who are subject to Law on Work Permit for Foreigners?

Law numbered 4817 includes foreigners working dependently or independently in Turkey, foreigners taking vocational education from an employer and real and legal persons employing foreigners.

In accordance with the Law, the following persons are excluded;

  • People who were born in Turkey but renounced their citizenship with the decision of Council of Ministers,
  • Correspondents to be employed according to Press Law,
  • Members of foreign media organs,
  • Work permit holders or people that are employed by ministries or state institutions or organizations according to law,
  • Foreigners that are exempt from work permit by way of considering the principle of reciprocity, international law and European Union 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/who-are-subject-to-law-on-work-permit-for-foreigners/feed/ 0 In accordance with Law numbered 6550 on Supporting the Research Infrasructures, will there be a fee exemption for employees working in incorporated centers? https://www.muhasebenews.com/en/in-accordance-with-law-numbered-6550-on-supporting-the-research-infrasructures-will-there-be-a-fee-exemption-for-employees-working-in-incorporated-centers/ https://www.muhasebenews.com/en/in-accordance-with-law-numbered-6550-on-supporting-the-research-infrasructures-will-there-be-a-fee-exemption-for-employees-working-in-incorporated-centers/#respond Thu, 17 Jan 2019 13:12:39 +0000 https://www.muhasebenews.com/?p=44424 In accordance with Law numbered 6550 on Supporting the Research Infrastructures, will there be a fee exemption for employees working in incorporated centers?

 

It is possible as of 31.12.2023 that except for civil servants, wages of support personnel and  employees working in R&D departments related to this job to be exempt from income tax and the documents about their wages for this specific work to be exempt from stamp tax within the scope of said Regulation.

The number of support personnel to benefit from the incentives aforesaid can not exceed 10% of the total number of R&D personnel.

 

 

 

 

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/in-accordance-with-law-numbered-6550-on-supporting-the-research-infrasructures-will-there-be-a-fee-exemption-for-employees-working-in-incorporated-centers/feed/ 0 How Many Days Do Shipmen have Holidays? https://www.muhasebenews.com/en/how-many-days-do-shipmen-have-holidays/ https://www.muhasebenews.com/en/how-many-days-do-shipmen-have-holidays/#respond Mon, 03 Dec 2018 09:00:18 +0000 https://www.muhasebenews.com/?p=27905 How Many Days Do Shipmen have Holidays?
Shipmen having completed their weekly working hours are able to have holidays for the rest of the week. On the harbor services and city line ships, shipmen are not worked more than six days in a week. If a shipman is worked on his off day, he will be given permission on one of the days of the week in turns.

Is shipman not working on his off day, got paid?
Shipman, not working on his off day will be paid as much as a day wage.

How much higher is Shipmen working on weekend holiday, got paid?
Shipmen, working on the weekend holiday, will be paid as %25 raised pay additional to his regular wage.

Source: Maritime Code
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/how-many-days-do-shipmen-have-holidays/feed/ 0 YOU WILL NOT PAY TAX FOR THE EARNINGS OF FOREIGN BRANCHES! https://www.muhasebenews.com/en/you-will-not-pay-tax-for-the-earnings-of-foreign-branches/ https://www.muhasebenews.com/en/you-will-not-pay-tax-for-the-earnings-of-foreign-branches/#respond Mon, 03 Dec 2018 08:00:16 +0000 https://www.muhasebenews.com/?p=28151 Corporate earnings of the companies, whose headquarters are located in Turkey, are exempt from the corporate tax.
Conditions need to be provided to practice corporate tax exemption is as follows;
1) According to the tax law of the country in which earning comes from, at least % 15 income has to be liable to the tax.
2) Annual corporate tax declaration belonging to the period of transaction made, has to be transferred to Turkey up to the expiration date.
3) In the corporations whose main activities are financial provision including financial renting, insurance services, and securities investment, have to be liable to tax in Turkey.

Source: Corporate Tax Law
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/you-will-not-pay-tax-for-the-earnings-of-foreign-branches/feed/ 0 Is there stoppage in license fee paid in abroad? https://www.muhasebenews.com/en/is-there-stoppage-in-license-fee-paid-in-abroad/ https://www.muhasebenews.com/en/is-there-stoppage-in-license-fee-paid-in-abroad/#respond Mon, 03 Dec 2018 06:00:04 +0000 https://www.muhasebenews.com/?p=28199 According to the Corporate Tax Law no.5520, article number no.30 regulating tax paying conditions, without paying attention to commercial or agricultural earning;
1– Copyright’s
2- Prerogative’s
3- Invention’s
4- Management’s
5- Commercial Name’s
6- Brand’s and similar real property’s ,
Selling and transfer will be liable to tax
Within this regulation,  for the licenses providing services help using e-mail safely, there needs to be a tax deduction.

Source: Coporate Tax Law
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-stoppage-in-license-fee-paid-in-abroad/feed/ 0 Who can work as auditor at corporates? https://www.muhasebenews.com/en/who-can-work-as-auditor-at-corporates/ https://www.muhasebenews.com/en/who-can-work-as-auditor-at-corporates/#respond Wed, 07 Nov 2018 10:00:18 +0000 https://www.muhasebenews.com/?p=28969 Who can work as auditor at corporates?
1-Who can work as auditor at corporates?
Auditor can be people or stock corporations composed of the people, authorized by public oversight, accounting and auditing standards authority and obtaining license according to the law of certıfıed publıc accountancy and sworn ın certıfıed publıc accountancy numbered 3568 and dated 01.06.1989.
When one of the below mentioned situations exist,  the ones working with  sworn financial advisor, professional accountant  or with the ones related to those, cannot work as audit in relevant companies.
Situations are as follows:
1.1- If auditor has a share in the company to audit,
1.2- If he is the worker or the director of the company to audit or had this title 3 years before his appointment as an audit,
1.3- If a legal entity appointed as auditor is the representative or the legal representative of the company whom he will audit or is a member of the board of management or has more than %20 shares of the company or is third degree kin to them.
1.4- If he has relations with the company to audit or has share more than %20 of the shares of the company to audit or work with the one of the shareholders of the company to audit,
1.5- If he helped to the company to audit on book keeping or regulating financial tables,
1.6- If he helped to the company in other way except for  book keeping or regulating financial tables,
1.7- If he works with an auditor  whose title taken away because of the reasons shown in 1.1 and 1.6,
1.8- If  more than %30 of his income comes from making money  out of auditing for the last five years, he cannot be an auditor.

2-What is the year condition for auditing?
If an auditor is chosen for 10 years to audit the same company he can’t audit it again unless 3 years pass. Accounting and auditing standards authority has the right to audit this situation.

3-CAN AUDITORS PROVIDE SERVICE WITH THE CMPANIES THEY AUDIT?
It is forbidden to provide service with the companies by the auditors except for  tax or tax audit services.

Source:Turkish Trade Law
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.

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