required – Muhasebe News

Is a board member of a foreign Inc. required to obtain a work permit?

MuhasebeNews — Mon, 08 Apr 2019 08:26:49 +0000

SUBJECT

About foreign board members obtaining a work permit.

QUESTION

Inc. with 3 partners
2 partners are foreign
1 partner is Turkish

All shares are transferred to one of the partners.
The number of board members is dropped to a single person.

This foreign person have also become the chairman of the board.
Is this person required to obtain a work permit?

(13.11.2018 11:56)

ANSWER

It is evaluated that board members in incorporated companies are not required to obtain work permit and that in the case of working de facto and residing in our country continuously, it is beneficial for these members to get certificate of residence and work permit certificate.

Source: SSI
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.

Are we required to declare rental income?

MuhasebeNews — Mon, 25 Mar 2019 13:00:09 +0000

Non-resident taxpayers do not submit annual declarations for the income from immovable property which are subject to withholding tax in Turkey. Also, in case that they submit annual declaration for other income, they do not include the income which is subject to withholding tax in their declarations.

Taxpayers who have only rental income from immovable property in Turkey will submit annual tax declaration, if;

their rental income from house exceeds tax exception amount (4.400 TL for the year 2018); and,
their rental income not subject to withholding obtain from leasing of the properties and rights within a calendar year

On the other hand, rental income which is subject to withholding will not be declared the annual tax return regardless the amount.

Every member of a family has to submit a declaration on their own behalf for the rental income they obtained from the property and rights belonging to them.

On the occasion that minor and restricted persons are taxpayers; the annual declaration to be submitted on behalf of them is signed by their parents, guardians or curators.

In case of having property and rights with shares, every partner should declare the rental income corresponding to his/her own shares.

Source: GİB
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.

Are we required to draw up an invoice for the samples we will export?

MuhasebeNews — Tue, 05 Mar 2019 14:10:51 +0000

We want to give samples to a foreign person without charge. Do I have to draw up an invoice for these samples?

Invoices are accepted as original documents in accordance with 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.

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.

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.

Is it required to pay the subscribed capital from the bank

MuhasebeNews — Mon, 11 Feb 2019 07:58:10 +0000

Is it required to pay the subscribed capital from the bank?

The important point is to pay the subscribed capital and enter it on the records. I think that the payment should be included on an invoice. We think that this should be considered from a financial aspect.

Are we required to pay 15% withholding for the Google ads?

MuhasebeNews — Mon, 24 Dec 2018 16:00:53 +0000

We’re placing ads on Google. We pay with credit card. We do not receive and invoices for the transaction. We draw up an invoice any declare Vat on VAT Return No:2. Lastly, are we also subject to the regulation regarding 15% withholding on Google ads on the Presidential Decree Numbered 475? Are we required to pay 15% withholding as a company in addition to the VAT?

(24.12.2018 08:44)

As of 01.01.2019, 15% must be cut for taxes before making a payment.

Within how many days are we required to register the foreign employee, for whom we have obtained a work permit, for insurance?

MuhasebeNews — Wed, 05 Dec 2018 08:00:23 +0000

Regarding the statement of employment of the emloyee for whom a work permit has been obtained, the work permit has been approved. The date of the work permit is 26/11/2018. It was delivered to us by cargo. I will make a statement of employment. Normally, the registration is made a day before the starting day of employment. What is the case for this situation? Am I going to write the start date of employment as 26/11/2018 or is there an exception? Can the Social Security Institution fine us because of the start date of employment?

Date of Work Permit : 26/11/2018
Date of Notification : 30/11/2018
Start Date of Employment : Is it 26/11/2018 or should it be a day before the start day of employment? For example, if I start the employment on 04/12/2018, should I register it as 03/12/2018?

It is mandatory to apply to a provincial directorate of security to get an employment annotated residence permit within 30 days at the very latest as of the day when the foreign nationals obtained their work permit documents. The provincial directorate of security gives the residence permit within 15 days (residence permits which are not received by hand within a month are cancelled as of the start date)
Within 45 days as of the start date of work permit written on the document, in the case when the date of notification of the work permit document to the employer and the date of work permit are different, the proclamation will be regarded as it was given within the legal period if the employer gives the statement of employment of the insured to the Institution within 45 days after the work permit document is notified to the employer.

Is it required to certify the factory ledger for the manufacturing companies?

MuhasebeNews — Wed, 05 Dec 2018 07:00:17 +0000

Is it required to certify the factory ledger for the manufacturing companies?

If you calculate costs according to 7/A, it is not required to keep a ledger. If you record the cost calculations according to 7/B, you are required to keep a factory ledger.

Is it required to pay Stamp Duty for the traffic insurances of the Government vehicles?

MuhasebeNews — Wed, 05 Dec 2018 06:00:47 +0000

Is it required to pay Stamp Duty for the contracts of traffic and insurance that are taken by the public by means of a service procurement tender?

Yes. There is no Stamp Duty exemption for the vehicles whose traffic insurance policy was made by means of a service procurement tender. The Stamp Duty resulting from the agreement related to the tender must be paid.

Is it required to invoice the exhange difference? Is VAT applied?

MuhasebeNews — Wed, 21 Nov 2018 06:30:27 +0000

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.