donations – Muhasebe News https://www.muhasebenews.com Muhasebe News Mon, 11 Feb 2019 13:42:38 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.4 Do tax-exempt associations have to pay tax for their donations https://www.muhasebenews.com/en/do-tax-exempt-associations-have-to-pay-tax-for-their-donations/ https://www.muhasebenews.com/en/do-tax-exempt-associations-have-to-pay-tax-for-their-donations/#respond Mon, 11 Feb 2019 13:42:38 +0000 https://www.muhasebenews.com/?p=46488 I have a question regarding the taxation of donations from tax-exempt foundations or associations (in terms of income tax or inheritance and transition tax.) What should I pay attention to about taxation?

For donations and aids to the institutions you mentioned, look up the Paragraphs 4,5,6,7,8,9,10,11 of Article 89 of Income Tax Law and Article 10 of Corporate Tax Law. Within the framework of conditions and rates in the Articles, the donations and aids can be reduced from annual return if there is revenue.

 

 

 

 

 

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.

]]> https://www.muhasebenews.com/en/do-tax-exempt-associations-have-to-pay-tax-for-their-donations/feed/ 0 When determining the profit of the company, is it possible to make a deduction on donations and grants in kind made to the association? https://www.muhasebenews.com/en/when-determining-the-profit-of-the-company-is-it-possible-to-make-a-deduction-on-donations-and-grants-in-kind-made-to-the-association/ https://www.muhasebenews.com/en/when-determining-the-profit-of-the-company-is-it-possible-to-make-a-deduction-on-donations-and-grants-in-kind-made-to-the-association/#respond Wed, 26 Dec 2018 06:30:47 +0000 https://www.muhasebenews.com/?p=42526 When determining the profit of the company, is it possible to make a deduction on donations and grants made to the association?

 

On condition that the cost values of clothes that are donated to the association ensure the requirements in the General Comminique on Income Tax with serial number 251 and subparagraph (10) of the first article of article 40 of Personal Income Tax Law…by your company… it is possible to write them off as expenses when determining the net income.

 

On the other hand, … within the scope of statements in the section titled ‘’10.3.2.” Limited donations and aids with 5% of company profit’’ in General Communique on Corporate Income Tax serial number 1, it is possible to make a deduction on donations that do not meet the requirements or donations in kind that are not related to food, cleaning, clothing and fuel materials when determining your corporate tax base.

 

 

 

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.

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