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Do we have to prepare invoices for loans between companies?

MuhasebeNews — Wed, 13 Mar 2019 14:05:40 +0000

Our partner of the joint stock company pays the tax debts of the company from the account of the limited company that he is also a partner of. What should we do to close the accounts of the joint stock company? As the joint stock company, do we have to prepare an invoice to the other company?

It is not required to prepare an invoice for the loans between companies. About the payments; you should use 232 account for debts and 102 account for receivables. For the payments such as the interest, late interest, and exchange differences, the rules of transfer pricing and distribution of hidden profits must be followed.

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.

If taxpayers in Turkey sell their real property entered as assets, would they have to pay taxes

MuhasebeNews — Tue, 05 Mar 2019 13:35:45 +0000

A taxpayer keeps accounting records on the basis of balance. If the taxpayer sells their real property that is entered as an asset, would it be possible for them to benefit from 50% exemption from income tax and VAT exemption?

Only corporate taxpayers are able to benefit from the Real Property Income Tax Exemption that is mentioned in the Value Added Tax Law and Corporate Tax Law. Income taxpayers can not benefit from this exemption.

Do tax-exempt associations have to pay tax for their donations

MuhasebeNews — Mon, 11 Feb 2019 13:42:38 +0000

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.

In accordance with the regulation regarding the number of employees subject to compulsory individual pension system, do we also have to include the employees who have bağkur?

MuhasebeNews — Wed, 26 Dec 2018 16:00:36 +0000

Regarding the compulsory individual pension system (CIPS) starting on 01.01.2019, do we have to include the employer when calculating the compulsory number of months for November if we are a private company? Or should we count it as 4 people with SII (Social Security Institution) + 1 person with Bağkur (social security organization for artisans and the self-employed). Or should we only look at the number of employees with SII?
(19.12.2018 )

4a employees are considered when calculating the number of employees who will benefit from CIPS.

Do we have to pay Minimum Living Allowance (MLA) for foreign employees who have work permit?

MuhasebeNews — Thu, 13 Dec 2018 14:30:02 +0000

Is a taxpayer required to follow the same MLA procedure for foreign people whom he is going to employ by getting them a work permit?
(12.12.2018)

All 4a employees are subject to the same provisions.

Within how many days are we required to register the foreign employee, for whom we have obtained a work permit, for insurance?

MuhasebeNews — Wed, 05 Dec 2018 08:00:23 +0000

Regarding the statement of employment of the emloyee for whom a work permit has been obtained, the work permit has been approved. The date of the work permit is 26/11/2018. It was delivered to us by cargo. I will make a statement of employment. Normally, the registration is made a day before the starting day of employment. What is the case for this situation? Am I going to write the start date of employment as 26/11/2018 or is there an exception? Can the Social Security Institution fine us because of the start date of employment?

Date of Work Permit : 26/11/2018
Date of Notification : 30/11/2018
Start Date of Employment : Is it 26/11/2018 or should it be a day before the start day of employment? For example, if I start the employment on 04/12/2018, should I register it as 03/12/2018?

It is mandatory to apply to a provincial directorate of security to get an employment annotated residence permit within 30 days at the very latest as of the day when the foreign nationals obtained their work permit documents. The provincial directorate of security gives the residence permit within 15 days (residence permits which are not received by hand within a month are cancelled as of the start date)
Within 45 days as of the start date of work permit written on the document, in the case when the date of notification of the work permit document to the employer and the date of work permit are different, the proclamation will be regarded as it was given within the legal period if the employer gives the statement of employment of the insured to the Institution within 45 days after the work permit document is notified to the employer.

Is it possible to lose the right to have weekend holidays in the case of having medical report in weekdays?

MuhasebeNews — Fri, 30 Mar 2018 13:44:21 +0000

1- Is it possible to lose the right to have weekend holidays in the case of having medical report in weekdays?

Right to have weekend holidays cannot be lost in the case of having medical report in weekdays. The days which someone is not coming to work, are counted as workdays and one has the right to weekend holidays even if he didn’t go to work.

2- Does employer have to pay on weekend holidays?

Employer has to pay on weekend holidays. Weekend holidays has to be given as paid. Even if someone is not working on that day when he has medical report, that days wage can be acquired.

3- How wage is paid in the case of working in weekends?

Since Working in weekends’ results in exceeding 45 days of working, they need to be paid as overworking.

For instance: When we consider an employee whose holiday is on Sunday and who works on Sunday, he will got paid however, 45 days of working will be exceeded and his wage will be paid as %45 increasedand consequently he will be paid two and a half per diem.

Source: Labor 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.