debtor – Muhasebe News

What is regarded as Warrant in Deferment and Installment of SSI Premium Debts in Turkey?

MuhasebeNews — Wed, 11 Oct 2017 12:00:16 +0000

1- WHAT IS REGARDED AS WARRANT IN DEFERMENT AND INSTALLMENT OF SSI PREMIUM DEBTS?
Followings are regarded as warrant in deferment and installment of SSI premium debts;
1.1- Money,
1.2- Bank letter of guarantee,
1.3- Government debt security or documents prepared instead of these securities which are issued by Undersecretariat of Treasury,
1.4- Properties introduced by the debtor or the third parties on behalf of the debtor (In case of sequestration, it will be take the place of in the amount of seized property.)

Unless aforesaid documents and properties are introduced as warrant, a confidential person can be introduced as a warranter in the capacity of joint warrantor and joint debtor on condition that it is accepted by Social Security Institution.

2- HOW SHOULD BE MADE THE VALUATION OF PROPERTIES INTRODUCED AS WARRANT?
Valuation of properties should be made with;
2.1- Reports prepared by technical employees,
2.2- Reports prepared by assessment centers or valuation experts given the authority within the scope of Capital Market Legislation,
2.3- Reports prepared by persons given the authority of expertness and arbitration by Chambers of Commerce, Industry, Shipping and Chambers of Turkish Engineers and Architects or related administrations,
2.4- Reports prepared by banks and insurance companies and related to valuation,
2.5- Reports prepared by experts appointed by Civil Courts.

Source: SSI

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.

Is It Possible to Sequestrate Bank Accounts of a Person Who Cannot Pay SSI Premium Debts in Turkey?

MuhasebeNews — Tue, 10 Oct 2017 12:00:34 +0000

1- IS IT POSSIBLE TO SEQUESTRATE BANK ACCOUNTS AND CLAIMS (FROM THE THIRD PERSONS) OF A PERSON WHO CANNOT PAY SSI PREMIUM DEBTS?
It is possible to sequestrate debtor’s bank accounts, salary, fees, rental incomes and all claims from the third persons by issuing notice of levy.

2- WHAT IS THE PROCESS OF SEQUESTRATION OF DEBTOR’S CARS AND HOW ARE THEY DISQUALIFIED FROM DRIVING?
Debtor’s cars, which are registered by Security General Directorate, are sequestrated by Social Security Institution by examining them electronically and they are also disqualified from driving.

Source: SSI

Negotiable Instruments According to Turkish Commercial Code

MuhasebeNews — Mon, 24 Jul 2017 07:49:15 +0000

1- WHAT ARE NEGOTIABLE INSTRUMENTS?
Negotiable instrument is a kind of document whose rights cannot be submitted without document and cannot be handed over to someone else.

2- WHO IS THE DEBTOR OF NEGOTIABLE INSTRUMENT?
2.1- Debtor of negotiable instrument is supposed to pay it in exchange for the delivery of document.
2.2- Debtor can clear debts by making payment to supplier in accordance with nature of the document when it is due (as long as there is no deception or gross fault).

3- TRANSER OF NEGOTIABLE INSTRUMENTS IN GENERAL
3.1- It is required to transfer the possession in the document in order to transfer negotiable instrument with the intention of gaining a possession or a limited real right.
3.2- Furthermore, it is needed to have an endorsement for order instrument and a transfer statement for registered certificate. This statement can be written on either a negotiable instrument or a separate paper.
3.3- It can be requested with law or agreement that others especially debtor should participate in transfer.

4- CAN A NEGOTIABLE INSTRUMENT BE ENDORSED?
4.1- In all cases, it can be endorsed in line with provisions related to policy’s endorsement.
4.2- It is enough to make endorsement and transfer the possession of document.

5- HOW TO ENDORSE NEGOTIABLE INSTRUMENT?
Endorser’s rights are transferred to the endorsee with the endorsement and transfer of possession, not otherwise specified in content or nature of all transferable negotiable instruments, documents.

6- IS IT POSSIBLE TO CHANGE TYPE OF DOCUMENTS?
In order to change type of documents;
6.1- Registered document or order instrument can be turned into bearer securities with the consent of all persons having rights and debt burden. This consentment should be directly written on document.
6.2- The same rule is valid in the matter of turning bearer securities into registered documents or order instrument. If one of debtor or a rightholder does not give consent for the last case, this change inure between supplier who make this change and the person being the successor to his/her rights.

7- CAN A NEGOTIABLE INSTRUMENT BE DECERTIFIED?
7.1- A court has a right to decide that a negotiable instrument can be decertified on condition that it is lost.
7.2- If a negotiable instrument is lost or when it is revealed that it is lost, the person who has a claim on the document can decide to decertify it.

8- WHAT ARE THE PROVISIONS TO DECERTIFY NEGOTIABLE INSTRUMENT?
8.1- In the event of decertification, rightholder can assert his/her claim without document or can demand to prepare a new document.
8.2- Apart from that, special provisions are applied to various kinds of negotiable instruments.

***Special provisions related to various kinds of special instruments are reserved.

Source: Turkish Commercial Code

Attention!!! The Last Day to Take Advantage of the Amnesty Law is 30 June 2017, Friday!

MuhasebeNews — Thu, 29 Jun 2017 15:14:08 +0000

In order to take advantage of Amnesty Law numbered 7020 which enables people to make an installment plan in order to pay their public debts with installments; taxpayers should apply until 30 June 2017, Friday.

***It is not possible to extend the application period, because there is no authorization related to extending the application period of Law numbered 7020.

It is crucial for debtors to apply to it until 30 June 2017 in order to take advantage of the opportunities provided by the law numbered 7020.

In order to take advantage of the Amnesty Law;
1- The application should be done by going to tax office (in person or with proxy).
2- By post (If the application is done with certified mail or APS, posting date and if it is done with surface mail, the date when the post arrives to tax office will be taken into consideration.)
3- It can be done via internet (www.gib.gov.tr).

****Furthermore, debt inquiry can be done through www.gib.gov.tr .

Source: Revenue Administration