Home News Is it possible to apply discount on the VAT of bad debts?

Is it possible to apply discount on the VAT of bad debts?

200
0

In accordance with Law numbered 7104 and the amendment on Article 29 of Law numbered 3065, the VAT of bad debts may be subject to a discount. The company lawyer started an execution proceeding on 31.12.2018 for the receivables to not get affected by the increase in transaction stamp costs. Normally, the execution proceeding was set to start in January.

We’ve just received the documents. According to the related article of the Law, a discount may be applied on the VAT in the taxation period that it is written as a loss and this discount may be written as income. Is it possible to make provisions in January and apply a discount on the VAT?

 

Provisions shall be made until 31.12.2018. It is possible to apply a discount on the VAT until 31.12.2019 (Paragraph 3 of Article 29 of VAT Law.)

 

 

 

 

 


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.


LEAVE A REPLY

Please enter your comment!
Please enter your name here