stamp duty – Muhasebe News

What are the Tax, Duty and Fees Exemptions in Providing Credits in Turkey?

MuhasebeNews — Sat, 01 Dec 2018 18:00:05 +0000

Papers constructed for acquiring, guarantees, re-payment of credits, which will be used by Banks, credit enterprises abroad and international associations, and the signs over these papers (Except usage of credits) are exempt from stamp duty. (Stamp Tax Law Table number IV- 23)

Also;

Transactions caused by establishment, merging, assignation, capital raise, splitting off and type alteration of joint stock, shared commandite and limited companies and transactions related to providing, guarantees, re-payment and bonds of credits which are given by banks, overseas credit organizations and international institutions shall not be subjected to duties (except trial duties). (Duties Law a.123)

The transfer of movables, immovable and intangible assets to the leasing firm and the re-transfer of these assets by the leasing firm to the assignor firm and the mortgage transactions related to these transfers are exempt from duties.

The exemptions regarding the duties shall not be applied to the “duty of exploration” which is one of the “Judiciary duties” and to the “Seizure, delivery and selling duty” which is one of the “enforcement and bankruptcy duties”. (Duties Law a.123)

Source: Revenue Administration

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What are the Incentives 4490 Numbered Turkish International Ship Registers Law and the Law Making Amendments in 491 Numbered Decree Law in Turkey?

MuhasebeNews — Sat, 01 Dec 2018 13:00:35 +0000

The incomes derived from the transfer or running of ships and yachts registered at Turkish International Ship Register are exempt from income and corporate tax and funds. (Law numbered 4490 a. 12, Corporate Tax General communiqué 1)

Buying, selling, mortgage, registration, credit, shipment agreements of the ships and yachts registered at Turkish International Ship Register are exempt from stamp duty, duties, banking and insurance tax and funds.

The wages of the staff working at the ships and yachts registered at Turkish International Ship Register are exempt from income tax and funds.

Source: Revenue Administration

What are the Tax Incentives Applied in Free Zones in Turkey?

MuhasebeNews — Tue, 02 May 2017 12:13:16 +0000

According to the artificial article 3 of Free Zone Law numbered 3218:

1- Taxpayers who has license to function in free zones which founded before and at the date of 06/02/2004, are exempt from income and corporate tax for the income they derived in these zones limited to the period stated in their license.

2- Until the end of the annual taxation period of full membership date to European Union:

a.Income of the tax payers who deal with manufacturing in free zones derived from the sale of these manufactured goods are exempt from income or corporate tax.
b.The wages of the staff, who are working for the tax payers exporting 85% of the FOB cost of the products produced in free zones, are exempt from income tax. The tax which could not be collected on due date since the total sales amount is below 85%, is collected without any penalty with the late fee.

***All procedures and written documents regarding the activities within free zones are exempt from stamp duty and other duties.

Source: Revenue Administration