Income Tax General Communique – Muhasebe News https://www.muhasebenews.com Muhasebe News Tue, 10 Oct 2017 12:37:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 What are the Gain Exemption and Instruction Businesses in Turkey? https://www.muhasebenews.com/en/what-are-the-gain-exemption-and-instruction-businesses-in-turkey/ https://www.muhasebenews.com/en/what-are-the-gain-exemption-and-instruction-businesses-in-turkey/#respond Tue, 10 Oct 2017 07:00:34 +0000 https://www.muhasebenews.com/?p=14910 Gains derived from operating private schools of pre-school education, primary education, private education and secondary education is exempt from income tax for the five taxation period after the assessment of the related Ministry and within the framework of the principles and procedures determined by the Ministry of Finance. The exemption shall be valid for the five taxation period following the first taxation period which the schools had begun their activity.

Those who want to benefit from the exemption have to apply to our Ministry in written following the beginning of their activity.

(Income Tax Law a.20; Corporate Tax Law a.5/1-I; Income Tax General communiqué 254; Law numbered 5228 Temporary a.1)

Free education and instruction services given in condition that not to pass over 10% of capacities of relevant period by the private schools subjected to the provisions of Law numbered 625, are exempt from value added tax. (Value Added Tax Law a. 17/2-b)

Also, gains derived from operating rehabilitation centers which are affiliated with trusts to which The Council of Ministers gave tax exemption or associations beneficial to public interest are exempt from corporate tax for five taxation period. (Corporate Tax Law a.5/1-ı)

Source: Revenue Administration

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/what-are-the-gain-exemption-and-instruction-businesses-in-turkey/feed/ 0 Increases in 2017: How Much Does the Lunch Voucher of an Employee? https://www.muhasebenews.com/en/increases-in-2017-how-much-does-the-lunch-voucher-of-an-employee/ https://www.muhasebenews.com/en/increases-in-2017-how-much-does-the-lunch-voucher-of-an-employee/#respond Mon, 16 Jan 2017 14:15:23 +0000 http://www.muhasebenews.com/?p=9299 The amount of lunch voucher/coupon exempted from tax in 2017 will be
14 TL + %8 VAT = 15,12 TL.

In 2017, the amount of lunch voucher exempted from income tax is determined as 14 TL (15,12 TL including VAT) according to Income Tax General Communique no 296 established in Official Gazette no 29931 and dated 27.12.2016.

In 2016, the amount of exemption was 13, 70 TL + VAT = 14, 80 TL. It has been increased to 0, 30 TL+ VAT in 2017.

If the amount of lunch is budgeted as 15,12 TL for the employees who work between the dates of 01.01.2017 and 31.12.2017, the amount of lunch voucher will be exempted from income tax. It means that there will be no income tax deduction for that amount.

If the budget for the amount of lunch voucher is set more than 15,12 TL, the employer will pay income tax for that excess.

If the employer pays the amount of lunch in cash, there will be no exception. The whole amount will be regarded as a fee and it will be subject to deductions.

Source: 27.12.2016-29931 Official Gazette
Date: 16 January 2017

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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