32/8 of the Turkish Corporate Tax Law (KVK). The article is about manufacturers. KVK 32/7. KV in the article (related to Export) is paid with a 5% discount (20%). Sales in the free zone are subject to export.

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1- WHAT EXPENSES ARE COUNTED AS PREMIUMS?
Incomes attained from legally obligated institutions by real people and incomes counted as premiums in terms of the enforcing Income Tax law as follows:

1.1- Premiums of stock certificates
1.2- Income from trade investments
1.3- Premiums given to the members and board of governors.

2- HOW TAX IS IMPLEMENTED ON KAR PAYLARI NASIL VERGİLENDİRİLİR?
2.1-The half of the premiums attained from legally obligated institutions are exempt from, the rest amount is going to be considered as liable to tax.

In the case that there is no other income which is liable to tax, tax income will be declared if it exceeds 30.000 Turkish Lira.

2.2- %15 part of the all tax cut, (including the exceptional part) will be centered in an account, the rest amount after the entrance will be denied and returned within the frame of general provisions.
2.3- In the case that institutions distribute their earnings which they acquired before 31 December 1998, these profit shares that is acquired by real people, will not be declared with annual tax declaration no matter how much it is.
2.4- Account period between the years of First January of 1999 and 31^st December of 2002, earnings which are not liable to tax and the other earnings which are liable to tax according to the income tax law article number 61, 1/9 Premium will be added to net amount.
2.5– 1/5 rate of declared amount will be entered in to account from the calculated income tax.
2.6- While giving notice regarding income from moveable capitals, working partners of the companies, partners of limited companies and of corporates, the members of board, are able to decrease the social security organization for artisans and the self-employed premiums.

Source: Income Law Tax
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.