Office – Muhasebe News https://www.muhasebenews.com Muhasebe News Wed, 03 Apr 2019 15:19:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.4 Is it possible to write off the investments for the rental office as expense at once? https://www.muhasebenews.com/en/is-it-possible-to-write-off-the-investments-for-the-rental-office-as-expense-at-once/ https://www.muhasebenews.com/en/is-it-possible-to-write-off-the-investments-for-the-rental-office-as-expense-at-once/#respond Wed, 03 Apr 2019 15:19:18 +0000 https://www.muhasebenews.com/?p=53450 Is it possible to write off at once the reparation, maintenance and renovation expenses of our rental warehouse and office of our company that does construction material business?

The investment is entered in 264 account. It is written off as an expense by extending it over the rent period.

Explanation of the 264 Special Costs Account: It includes the expenses made for the development of the leased rental properties or to continuingly increase their economic value and the amounts of the assets that are made for the usage of the real estate property and will be left to the landlord at the end of the rental agreement.

Functioning of the 264 Special Costs Account: The expenses are entered to this account as debt. These amounts are redeemed in equal amounts in the rent period or in 5 years if the rent period is more than 5 years.

 

 

 

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-it-possible-to-write-off-the-investments-for-the-rental-office-as-expense-at-once/feed/ 0 Are Services Export Subject to VAT in Turkey? https://www.muhasebenews.com/en/are-services-export-subject-to-vat-in-turkey/ https://www.muhasebenews.com/en/are-services-export-subject-to-vat-in-turkey/#respond Wed, 25 Apr 2018 12:00:57 +0000 https://www.muhasebenews.com/?p=11847 What are the features of services export?
Services done in Turkey and provided in a foreign country for customers living abroad (the receiver whose residence, Office and business center is abroad and a local company whose agency, bureau, representation and branch are independently active in a foreign country) are exempt from VAT.

Services within the scope of exception in export;
1- The service in Turkey should be given for a customer living in a foreign country (the invoice should be issued on behalf of the customer living in a foreign country in order to certify that transaction).
2- It is compulsory to take advantage of the service abroad.
In accordance with the provisions of VATA and General Communiqué on VAT system application, services provided for customers living in a foreign country should be declared within the scope of exception in export before the amount is brought to Turkey as a foreign exchange, during the period when services are offered.

Nonetheless, if a person demands the return of the payment of taxes imposed concerning to abovementioned transactions and being not subject to discount, he/she should provide proof of payment ( a document which certify that the foreign exchange is brought to Turkey, bank receipt etc.).

Source: Value Added Tax Act

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/are-services-export-subject-to-vat-in-turkey/feed/ 0 If You Sell Your Real Estates Within 1 Year, You Will Pay VAT! https://www.muhasebenews.com/en/if-you-sell-your-real-estates-within-1-year-you-will-pay-vat/ https://www.muhasebenews.com/en/if-you-sell-your-real-estates-within-1-year-you-will-pay-vat/#respond Tue, 16 May 2017 15:24:51 +0000 https://www.muhasebenews.com/?p=16056 Built offices and real estates will be exempted from VAT,
1- When they are sold to a company which do not gain income in Turkey for the first time,
2- On condition that its sale value should be paid as foreign currency brought from abroad!!!
3- By means of foreign real persons who do not reside in Turkey, an office whose registered office and headquarter are not in Turkey or a permanent representative,

The ones, who bought an office or a real estate by taking advantage of VAT exemption in Turkey previously, will not be able to sell their real estates 1 year.

If they sell their office or real estate within 1 year, the tax (VAT), which was not paid when it was bought, will be received.

The properties, which are transferred to the Treasury ownership because of a suit brought by the Treasury, among the ones zoned for construction and then sold by the municipalities,  will be again transferred to persons as free of charge.

Source: General Meeting of TGNA (23.02.2017 Thursday)

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/if-you-sell-your-real-estates-within-1-year-you-will-pay-vat/feed/ 0