Eurobonds are considered as government bonds and treasury bonds in terms of taxation and are not included in the Provisional Article 67. Therefore, the Eurobond interest income is declared if it exceeds the declaration limit.

In this implementation, the date of issue of Eurobonds does not matter. Since Eurobonds are issued in foreign currencies, no discount rate is applied. This exception is not applied to the income received after this date in order that the validness of the Provisional Article 59 has expired on 31/12/2007.

Source: GİB
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.

The interest income derived from these securities is not declared regardless of its amount and will not be included in the declaration in case of declaration of other incomes since the interest income of limited taxpayer real persons derived from the Eurobonds is deemed to have been taxed with detention in Turkey.

Source: GİB
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.

Thus, Eurobonds should be declared in the event that they exceed the declaration limit of interest income. In 2016, declaration limit of interest income is 30.000-TL.

Eurobond’s date of issue have no importance in this practice. Eurobonds are floated in foreign currency; as a result of that, discount rate is out of question. Provisional article 59 was terminated in 31.12.2007; that is why, this exception is not applied to earnings received after that date.

Source: Revenue Law

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.