selling – Muhasebe News

Is the VAT rate still 8% when selling stores that are registered as assets?

MuhasebeNews — Thu, 03 Jan 2019 08:00:02 +0000

Which one do I have to pay regard to when selling a store that is registered as an asset of a construction firm, the VAT rate of 18% or the discounted amount (8%)?

8% will be applied until 31.03.2019.

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.

What Are The Expenses To Be Deducted From The Income Resulting From The Selling Of Shares?

MuhasebeNews — Wed, 12 Dec 2018 10:30:41 +0000

Expenses To Consider When Determining the Income

When determining the income resulting from the disposal of the shares, it is possible to apply a reduction on the cost value of the disposed shares from the sale value as well as the expenses made because of the disposal and that are undertaken by the seller.

It is not possible to apply a reduction on the financial expenses regarding liabilities used when determining the income resulting from the disposal of shares.

Source: Income Tax Law Numbered 232
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 there a tax exempt for the selling of shares of Incorporated Companies?

MuhasebeNews — Wed, 21 Nov 2018 09:30:36 +0000

SUBJECT

About Incorporated Company transfer of Shares.

QUESTION

We have 10 companies in total that are tied to our incorporated company shareholdings.

There haven’t been any certificates for these companies.

In accordance with Income Tax Law, providing that there is a certificate, it is subject to income tax if it is sold within 2 years

There aren’t any certificates for our companies.

If we sell our companies in the current situation, for example in the case of us selling our company of 50.000 TL capital to 100.000 TL, do we have to state a profit of 50.000 TL in our corporate tax return?

Or is there any exceptions?

(15.11.2018 09:02)

ANSWER

The company can not be sold. The partners of the company sell their ‘shares’. The profit of partners from the selling of the shares are declared as earnings and revenue to the Other. It is not possible to declare profit with corporate tax return.

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.

House Sales Statistics, April 2018

MuhasebeNews — Tue, 22 May 2018 11:00:53 +0000

House Sales Statistics, April 2018

In April 2018, 103 087 houses were sold in TurkeyIn Turkey, house sales decreased by 9.9% in April 2018 compared to the same month of the previous year and hence, became 103 087. For the house sales of April 2018, İstanbul had the highest share of house sales with 16.9% and 17 414 sold house. The followers of İstanbul were Ankara with 10 352 house sales and İzmir with 6 418 house sales with the share of 10% and 6.2% respectively. The least house sold provinces were Hakkari with 6 house sales, Ardahan with 8 house sales, Bayburt with 22 house sales.

Number of house sales, 2017-2018

In April 2018, 27 912 ownership of the houses changed by mortgage sales

The mortgaged house sales throughout Turkey became 27 912 by decreasing 35.6% compared to the same month of the previous year. House sales with mortgage had a 27.1% share of all house sales in Turkey. Most of house sales with mortgage was in İstanbul with 5 047 sales. İstanbul was the first province in Turkey ranking that has most house sales with mortgage share with 18.1%. Mortgaged house sales had the highest share in Artvin with 38.5% of all house sales.

Ownership of 75 175 houses changed by other sales

Other house sales in Turkey became 75 175 by increasing 5.7% compared to the same month of the previous year. In the other sales, İstanbul was the first province with 12 367 sales and 16.5% share. Other house sales had 71% share of all house sales in İstanbul. Ankara was the second province with 6 978 sales. Ankara was followed by İzmir with 4 483 sales. The least other house sales was realized in Hakkari with 5 house sales.

House sales by type of sales, April 2018 House sales by state of sales, April 2018

In house sales, 47 534 of houses were sold for the first time

First house sales in Turkey became 47 534 by decreasing 8.6% compared to the same month of the previous year. First house sales had 46.1% share of all house sales in Turkey. The most first house sales was in İstanbul with 8 063 sales. İstanbul was the first province in Turkey ranking that had most first house sales share with 17%. The followers of İstanbul were Ankara with 3 596 house sales and İzmir with 2 696 house sales.

Ownership of 55 553 houses changed by second hand sales

Second hand house sales in Turkey became 55 553 by decreasing 11.1% compared to the same month of the previous year. In the second hand sales, İstanbul was the first province again with 9_351 sales and 16.8% share. Share of the second hand sales was 53.7% in İstanbul in total house sales. Ankara was the second province with 6 756 sales and Ankara was followed by İzmir with 3_722 sales.

In April 2018, 2 043 houses were sold to foreigners

In house sales to foreigners became 2 043 by increasing 25.8% compared to the same month of the previous year. İstanbul was the first province with 676 sales in April 2018. The followers of İstanbul were Antalya with 475 house sales, Bursa with 150 house sales, Trabzon with 143 house sales and Yalova with 113 house sales.

Most house sales were made to Iraq citizens according to country nationalities

Iraqi citizens bought 337 houses from Turkey in April. The followers of Iraq were Saudi Arabia with 252 house sales, Iran with 138 house sales, Kuwait with 116 house sales and Russia with 112 house sales.

The next release on this subject will be on June 20, 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 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.

Which Discounts cannot be made in the detection of profit of company of limited liability to tax?

MuhasebeNews — Tue, 06 Mar 2018 15:07:32 +0000

Which Discounts cannot be made in the detection of profit of company of limited liability to tax?

In the detection of profit of the companies which have limited liability to tax, provisions which are valid for the legally obligated companies, will be imposed.

1- Which Discounts cannot be made in the detection of profit of company of limited liability to tax?

In the detection of profit of company of limited liability to tax, making of above mentioned discounts cannot be accepted.

Interests given to the headquarters or to the branches except for locating in Turkey, for the sales and purchases for these institutions.

Except for the shares decided according to the allocation keys, which are decided according to the suitability principle of the detection of the profit in an institution located in Turkey, the shares separated for joining in the general administration expenses or loss of the branches located out of Tukey.

***Capital or Elective franchise is not necessary for the debts of the companies which have a limited tax liability.

2-How participation stocks are registered in transfer of the company?

Participation stocks given by the companies which carry out company transferring, is registered to the account of the branch located in Turkey.

***About the business or agriculture income of the companies except for the profits of the companies which have limited liability, provisions of corporate tax law will be implemented. However, if these profits and other incomes and earnings are attained in the scope of the trade operated in Tukey, company profit will be decided according to the tax law article number 1.

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.