Tax
ANNOUNCEMENT: TAX 2023-051 08/08/2023
DRAFT COMMUNIQUÉ SERIES NO.47 ON AMENDING VAT GENERAL APPLICATION COMMUNIQUÉ HAS BEEN PREPARED
Draft Communiqué Series No.47 on Amending Value Added Tax (VAT) General Application Communiqué has been prepared by Turkish Revenue Administration and has been opened to public's opinions and suggestions until the close of business day on 11/08/2023.
In the Draft, explanations are made on the following issues.
- VAT application in the sale of cards, passwords, and codes,
- Exemption for the construction of houses to be donated to disaster victims,
- Exemption application for sales of immovables that are in the institutions' assets before 15/07/2023,
- Repealing paragraph 2 of section (III/B-2.2) of VAT General Application Communiqué, Works started before the effective date of VAT General Application Communiqué regarding the exemptions, brought to project application and are still ongoing.
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ANNOUNCEMENT: TAX 2023-052 08/08/2023
COLLECTION GENERAL COMMUNIQUÉ (SERIES: B ITEM NO: 19) FOR REFUND OF ADMINISTRATIVE FINES IMPOSED AND COLLECTED WITHIN THE SCOPE OF COVID-19 ADMINISTRATIVE SANCTIONS HAS BEEN PUBLISHED
Provisional article 4 of Law No. 7420 stipulates that to prevent the spread of COVID-19, administrative fines shall not be imposed for the acts committed between 11/03/2020, when this disease was first observed in Türkiye, and 09/11/2022, when provisional article 4 entered into force, but collected administrative fines shall not be refunded.
However, the phrase "collected administrative fines shall not be refunded" in the last sentence of provisional article 4/1 of Law No. 7420 was cancelled by Constitutional Court decree published in Official Gazette dated 24/05/2023 and numbered 32200.
After Constitutional Court decree, to ensure the refund of payments made before 09/11/2022 in return for the administrative fines, according to article 24 of the Law dated 14/07/2023 and numbered 7456, administrative fines within the scope of provisional article 4 of Law No. 7420 and collected before 09/11/2022 will be refunded in the event of application to the administrative unit making the collection until 31/12/2024 (including this date).
Collection General Communiqué (Series: B Item No: 19), which includes procedures and principles for refund of administrative fines, has been published in Official Gazette dated 05/08/2023 and numbered 32270, and entered into force.
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ANNOUNCEMENT: TAX 2023-053 09/08/2023
GENERAL COMMUNIQUÉ OF LAW NO. 7440 ON RESTRUCTURING CERTAIN RECEIVABLES (SERIES NO.4) HAS BEEN PUBLISHED IN OFFICIAL GAZETTE
General Communiqué of Law No. 7440 (Series No.4) on restructuring certain receivables has been published in Official Gazette dated 09/08/2023.
Please click here for the relevant Communiqué.
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ANNOUNCEMENT: TAX 2023-054 16/08/2023
ANNOUNCEMENT ON EXTENDING CERTAIN NOTIFICATION PERIODS FOR TAXPAYERS AT LOCATIONS WHERE THE FORCE MAJEURE HAS ENDED
For Adana, Diyarbakır, Elazığ, Gaziantep (excluding İslahiye and Nurdağı districts), Kilis, Osmaniye and Şanlıurfa provinces and Gürün district of Sivas province, which have been affected by the earthquakes on 06/02/2023 in Kahramanmaraş province, deadlines which were previously determined as Tuesday, 15/08/2023 and Thursday, 31/08/2023 for the following have been extended until the end of Monday, 11/09/2023.
- Submission period of BA-BS notifications for the months 2023/1, 2, 3, 4, 5, 6, 7,
- For the taxpayers who prefer monthly submission, which must be prepared and signed by the same date, and who prefer to submit on the basis of 2022/11, 12 and 2023/1, 2, 3, 4, 5 and provisional tax periods, preparation and signing period of e-Ledgers for 2022/10, 11, 12, 2023/1, 2, 3 and 2023/4, 5, 6 periods and submission period of "Electronic Ledger Certificates", which must be submitted to Turkish Revenue Administration Information Processing System
You can review our Announcement for the details.
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ANNOUNCEMENT: TAX 2023-055 17/08/2023
DATAMATRIX CODE STANDARD GUIDELINE HAS BEEN PUBLISHED
Data Matrix Standard Guideline, which includes explanations regarding the presence of "Data Matrix" in documents issued in e-Invoice, e-Archive Invoice, e-Waybill, e-Self Employment Receipt, e-Producer Receipt, e-Insurance Commission Expense Document, e-Foreign Exchange and Precious Metals Purchase and Sale Document and e-Addition applications, has been published.
As determined in the Guideline, "Data Matrix" must be included in electronic documents to be issued as of 01/09/2023.
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ANNOUNCEMENT: TAX 2023-056 23/08/2023
TAX PROCEDURE LAW CIRCULAR NO. 160 HAS BEEN PUBLISHED ON TAX CERTIFICATE LIABILITY OF TAXPAYERS WHO MUST SUBMIT THEIR PERSONAL AND CORPORATE INCOME TAX RETURNS AFTER THE END OF THE FORCE MAJEURE PERIOD
Tax Procedure Law Circular No. 160 has been published regarding preparation of tax certificate of taxpayers, who have been considered within the scope of force majeure in pursuant to article 13 of Tax Procedure Law and for whom the submission period of personal/corporate income tax returns have been extended, by Turkish Revenue Administration according to the information in the returns submitted until the last day of extended return submission period and printing them from internet tax office account by the taxpayers within 1 month.
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ANNOUNCEMENT: TAX 2023-057 29/08/2023
THE FIRST INSTALLMENT PAYMENT PERIOD OF ADDITIONAL MOTOR VEHICLE TAX (MTV) HAS BEEN EXTENDED UNTIL SEPTEMBER 6, 2023
As per the Announcement of Turkish Revenue Administration, the payment period for the first installment of additional MTV, which must be paid until the end of Thursday, August 31, 2023 in accordance with the provision of Article 1/5 of Law No. 7456, has been extended until the end of Wednesday, September 6, 2023.
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BULLETIN: TAX 2023-085 01/09/2023
REDISCOUNT RATE IN TAX TRANSACTIONS INCREASED FROM 16.75% TO 26.75%
With Communiqué on Determining Interest Rates to be Applied in Rediscount and Advance Transactions published in Official Gazette dated 01/09/2023 and numbered 32296, Central Bank of the Republic of Turkey redetermined discount interest rate and advance interest rate, and this amendment changed the rediscount rate to be valid in tax transactions.
With the Communiqué,
- Discount interest rate to be applied to rediscount transactions to be made against promissory notes with a maximum maturity of 3 months was increased from 15.75% to 25.75% annually.
- Interest rate to be applied in advance transactions was increased from 16.75% to 26.75% annually.
You can review our Bulletin for the details.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
