creditors – Muhasebe News https://www.muhasebenews.com Muhasebe News Wed, 02 Jan 2019 13:04:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 Communiqué on Default Interest Ratio Determination of Late Payments Made to Creditors for Provision of Goods and Services https://www.muhasebenews.com/en/communique-on-default-interest-ratio-determination-of-late-payments-made-to-creditors-for-provision-of-goods-and-services/ https://www.muhasebenews.com/en/communique-on-default-interest-ratio-determination-of-late-payments-made-to-creditors-for-provision-of-goods-and-services/#respond Wed, 02 Jan 2019 13:04:50 +0000 https://www.muhasebenews.com/?p=43165 In accordance with paragraph  seven of article 1530 of Turkish Commercial Code numbered 6102 and dated 13.01.2011, the interest ratio is determined as  21,25 percent yearly and minimum compensation amount for collection cost as TRY 245,00 by Central Bank of the Republic of Turkey when default interest ratio for late payments to creditor during commercial transactions for goods and services is not foreseen in the contract and the related provisions are invalid.

 

The determined ratio and amount enters into force on  the date of issue and takes effect as of 01.01.2019.

 

 

Source: İSMMMO
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]]> https://www.muhasebenews.com/en/communique-on-default-interest-ratio-determination-of-late-payments-made-to-creditors-for-provision-of-goods-and-services/feed/ 0 Why Do Alitalia Workers Vote? https://www.muhasebenews.com/en/why-do-alitalia-workers-vote/ https://www.muhasebenews.com/en/why-do-alitalia-workers-vote/#respond Wed, 01 Nov 2017 08:00:33 +0000 https://www.muhasebenews.com/?p=14231 Alitalia workers begin voting on a make-or-break deal over job and pay cuts.

If they say “no”, Italian airline, which makes loss, is set to run out of money again since investors and creditors are reluctant to inject more cash without an agreement.

It hopes to return to profit by the end of 2019 by making 1 billion euros worth of cost cuts over the next three years.

Source: Euronews

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.

]]> https://www.muhasebenews.com/en/why-do-alitalia-workers-vote/feed/ 0 Expenses that will be deducted from Company’s Earnings! https://www.muhasebenews.com/en/expenses-that-will-be-deducted-from-companys-earnings/ https://www.muhasebenews.com/en/expenses-that-will-be-deducted-from-companys-earnings/#respond Tue, 16 May 2017 10:34:22 +0000 https://www.muhasebenews.com/?p=16003 1- DEDUCTIBLE EXPENSES ACCORDING TO INCOME TAX LAW
Income is taxed through net profit.
In order to determine the net profit, the expenses stated below should be accepted to deduct:
1- General expenses
2- Expenses related to the staff
3- Losses, damages and indemnities related to work
4- Travel and residence expenses
5- Vehicle expenses
6- Tax-in-kind, levies and charges
7- Amortizations
8- Fees paid to employers’ associations
9- Fees paid for personal retirement insurance
10- Donations made to associations and foundations making food banking

2- DEDUCTIBLE EXPENSES ACCORDING TO CORPORATE TAX LAW
In the determination of company’s income calculated like commercial income, a tax payer can deduct expenses stated below from its revenue.

1- Stock certificates and export cost of bonds
2- Incorporation and organizational costs
3- General meeting, business combinations, denouncement and liquidation costs
4- Insurance costs
5- Profit shares of partnership of commendams
6- R&D discount
7- Creditors without interest-fee and profit shares paid to private financial institutions

3- LOSS OFFSETTING AND OTHER DISCOUNTS
3.1- Loss offsetting
3.1.1- Previous losses
3.1.2- Losses of acquired company
3.1.3- Overseas losses
3.2- Donations and subsidies
3.3- Sponsorship costs
3.4- Dividends

Source: Corporate Tax Law numbered 5520 – Income Tax Law numbered 193

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.

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