Even if there is no change in the information, is it necessary to submit the actual beneficiary notification to the Revenue Administration electronically by the end of August each year?
You can review the informative letter published by ISMMMO on 31.07.2024 below.
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COLLECTIVE COMPANIES, ORDINARY PARTNERSHIPS AND UNINCORPORATE COMMANDITE COMPANIES WILL RE-SUBMIT THE “RELATED DECLARATION FORM” BETWEEN 01.08.2024 – 31.08.2024
31.07.2024
Dear Member,
With the Tax Procedure Law Communiqué No. 529, other taxpayers and other persons OTHER THAN CORPORATE TAX PAYERS are required to RE-submit the real beneficiary information electronically through the Revenue Administration Presidency INTERNET TAX OFFICE system by the end of August of each year.
Collective Companies, Ordinary Partnerships and Unincorporated Commandite Companies other than Corporate Tax payers had submitted their first forms on 31/08/2021. Since these taxpayers cannot make their updates with the Provisional Tax Return, according to Article 6, paragraph (2) of the VUK General Communiqué numbered 529; They must re-notify the Revenue Administration Presidency electronically with a form by the end of August of each year.
The Notification Form must be submitted by;
a)- The person or partner authorized to represent the company in collective companies,
b)- One of the limited partners in untitled limited partnership companies,
c)- The person with the highest partnership share in the name of ordinary partnerships.
The Notification Form Regarding the Real Beneficiary will be submitted through the GIB INTERNET TAX OFFICE system as before until 31.08.2024.
The taxpayer’s GIB internet tax office password is used to log in. Fill in the “Real Beneficiary Information Notification Form” in the “Other Notification and Information Entries” menu from the headings that open on the page. Explanatory information is in the “Real Beneficiary Information Notification Form” section of the Form.
Included in the form;
TYPE: Taxpayer group will be selected (General Partnership / Untitled Limited Partnership / Ordinary Partnership)
YEAR: 2024
MONTH: AUGUST
COUNTRY: T.R.
Province, district and address information and relevant fields on the form will be filled.
It will be provided upon REQUEST BY GIB from other institutions and persons listed in the 4 (2) Communiqué of the General Communiqué.
In other words, these persons and institutions (including SM, SMMM, YMMs) WILL NOT PROVIDE “Real Beneficiary Information Notification Form” unless GIB requests it.
PENALTY IMPLEMENTATION:
It has been stated in the VUK General Communiqué No. 529 that the relevant penal provisions of Law No. 213 will be applied to those who do not submit the form and to taxpayers who make incomplete or misleading notifications. The penal application has changed as follows.
Paragraph (9) has been added to Article 257 of VUK No. 213 with the “Law No. 7417 on Amendments to the Civil Servants Law and Certain Laws and the Decree Law No. 375” published in the Official Gazette dated 05/07/2022 and numbered 31887. The added paragraph is below.
9. (Paragraph added by Article 26 of Law No. 7417. Entry into force: 05.07.2022) To determine the scope of the real beneficiary in order to determine the real beneficiary information of legal entities and unincorporated entities in an up-to-date, complete and accurate manner, to impose the obligation to notify those falling within this scope, to determine the content, format, standard, submission period and method of the notification, to make changes to these, to determine the obligation to provide notification in terms of sector, taxpayer groups and taxpayer status, to impose the obligation to store and submit the information and notifications within the scope of this paragraph in electronic environment and to determine other procedures and principles regarding the implementation, Authorized.
In case of non-compliance with the above provision;
Those who do not fulfill the obligation of real beneficiary notification and preservation introduced as subparagraph (9) of Article 257 of the Tax Procedure Law will be subject to a special irregularity penalty increased by 3 times the penalty in subparagraph (1) of the first paragraph of Article 355.
NO NEW PROCEDURE WILL BE MADE FOR CORPORATE TAX PAYERS.
CORPORATE TAX PAYERS Provisional Tax Returns will continue to be updated. The above penalty application is also valid for Corporate Tax Payers.
Corporate Tax Payers;
1) -Capital companies: Joint-Stock, Limited and Limited Partnerships with capital divided into shares established in accordance with the provisions of the Turkish Commercial Code No. 6762
2) -Cooperatives
3)- Economic enterprises belonging to associations or foundations:
4)- Business partnerships:
5)- Other taxpayers listed in Article 2 of the KVK
In the above Legal entities;
a) Real person partners who have more than 25% of the shares of the legal entity,
b) In case it is suspected that the real person partner who has more than 25% of the shares of the legal entity is not the real beneficiary or there is no real person partner who has this amount of shares, the real person or persons who ultimately control the legal entity,
c) In cases where the real beneficiary cannot be determined within the scope of clauses (a) and (b), the real person or persons with the highest level of executive authority (chairman of the board of directors or authorized signatory person or persons) will be accepted as the real beneficiary and will be written in the notification.
Corporate Taxpayers who are obliged to make a notification must report the real beneficiary information in the annexes of their provisional tax returns and annual corporate tax return.
In case of establishment of a new liability or a change in the information they have previously added to the notification, they must report the establishment of a new liability or the change in information within one month following the date of these occurrences.
Source: Istanbul Chamber of Certified Public Accountants
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.
