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Can we leave the CIPS (BES) immediately?

MuhasebeNews — Mon, 08 Apr 2019 06:26:54 +0000

Workplaces that employ 5 or more workers in the period of November 2018 are subject to the CIPS.
After how many days can we leave the CIPS?
Can we leave it within 5 to 10 days?
What is the duration to stay in the CIPS?

Workers can use their right to leave the system within the termination period which is the first 2 months or any time after that period.

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.

Should we include or exclude the VAT when drawing out an invoice for exchange difference?

MuhasebeNews — Fri, 29 Mar 2019 15:30:21 +0000

My question is about invoices for exchange differences that occur when the prices of foreign exchange invoices of domestic sales are collected. Should we calculate the VAT by including it or additionally?

Exchange difference + VAT is calculated. The calculation is not made by including the VAT.

Example :
Exchange difference      : TRY 1.000
VAT – %18                          : TRY 180
General Total                   : TRY 1.180

Can we increase the attendance fee with the decision of board of directors of a joint stock company?

MuhasebeNews — Thu, 28 Mar 2019 15:22:18 +0000

We are paying attendance fee to our board members with the decision of the general assembly. We want to increase the amount. Can we increase the attendance fee with the decision of he board of directors?

The general assembly is entitled to pay and decide on the attendance fee of the board members of a joint stock company. Therefore, it is only under the authorization of the general assembly to pay, designate and increase the attendance fee. The Board of Directors of the joint stock company is not authorized to pay, increase on decrease the attendance fee.

How to draw up an invoice for the services we give to foreigners in Turkey?

MuhasebeNews — Mon, 25 Mar 2019 13:30:38 +0000

My taxpayer who is a self-employed architect will draw a project for a Belgium citizen in the amount of 7.500 Euros.

Is it possible for him to draw up the self – employment invoice in Euro?
How are the VAT and withholding practices?
Is it possible to make collections in cash and in person?

18% VAT is applied notwithstanding the nationality of the client.

If the client is not a taxpayer, the income tax withholding is not applied.

The collection is made through the bank.

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.

Do we have to prepare invoices for loans between companies?

MuhasebeNews — Wed, 13 Mar 2019 14:05:40 +0000

Our partner of the joint stock company pays the tax debts of the company from the account of the limited company that he is also a partner of. What should we do to close the accounts of the joint stock company? As the joint stock company, do we have to prepare an invoice to the other company?

It is not required to prepare an invoice for the loans between companies. About the payments; you should use 232 account for debts and 102 account for receivables. For the payments such as the interest, late interest, and exchange differences, the rules of transfer pricing and distribution of hidden profits must be followed.

Are we supposed to declare in the income tax return the earnings from wages given by the employers abroad?

MuhasebeNews — Tue, 12 Mar 2019 11:38:13 +0000

Are the wages of employees who work in the contact office of a foreign company in Turkey subject to income tax deduction?

Wages from foreign employers are declared in the income tax return to the tax authority by the employee.

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.

For how many years can we benefit from the discount resulting from the cash capital increase?

MuhasebeNews — Fri, 01 Mar 2019 14:26:10 +0000

For how many years can we benefit from the corporate tax discount resulting from the cash capital increase?

Companies can benefit from the discount resulting from their cash capital increase in addition to their existing capitals, on condition that they do not decrease their capital. There is no time limit to benefit from the discount.

Are we subject to stamp duty cut for travel allowances?

MuhasebeNews — Thu, 28 Feb 2019 14:30:40 +0000

Are travel allowances we pay to our employees subject to the stamp duty?

The allowances for domestic and foreign travels are subject to the stamp tax. The other payments are not subject to the stamp duty.