Stamp Tax Law – Muhasebe News

What are the Tax, Duty and Fees Exemptions in Providing Credits in Turkey?

MuhasebeNews — Sat, 01 Dec 2018 18:00:05 +0000

Papers constructed for acquiring, guarantees, re-payment of credits, which will be used by Banks, credit enterprises abroad and international associations, and the signs over these papers (Except usage of credits) are exempt from stamp duty. (Stamp Tax Law Table number IV- 23)

Also;

Transactions caused by establishment, merging, assignation, capital raise, splitting off and type alteration of joint stock, shared commandite and limited companies and transactions related to providing, guarantees, re-payment and bonds of credits which are given by banks, overseas credit organizations and international institutions shall not be subjected to duties (except trial duties). (Duties Law a.123)

The transfer of movables, immovable and intangible assets to the leasing firm and the re-transfer of these assets by the leasing firm to the assignor firm and the mortgage transactions related to these transfers are exempt from duties.

The exemptions regarding the duties shall not be applied to the “duty of exploration” which is one of the “Judiciary duties” and to the “Seizure, delivery and selling duty” which is one of the “enforcement and bankruptcy duties”. (Duties Law a.123)

Source: Revenue Administration

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Stamp Tax In Turkey!!!

MuhasebeNews — Sat, 01 Dec 2018 11:00:32 +0000

Stamp tax applies to a wide range of documents, including but not limited to, contracts, agreements, notes payable, letters of credit and letters of guarantee, financial statements and payrolls. Stamp tax is levied according to the type of documents at different tax rates or lump-sum amount listed in Annex I of the Stamp Tax Law.

Documents exempt from stamp tax are listed in Annex II of the same Law. The Law provides that each relevant party shall be responsible for payment of the total amount of stamp tax on the agreements. Each original document is separately subject to stamp tax.

***In 2015, 2.95% of the General Budget Tax Revenues comes from stamp tax and the total amount of tax revenues derived from stamp tax is 12.043.299.000 TL (Turkish Lira).

Source: Revenue Administration (Law No. 488, Official Gazette No. 24783 dated 12.06.2012)

Are the Copies of Papers Prepared More Than One Subject to Stamp Tax?

MuhasebeNews — Thu, 16 Aug 2018 09:00:48 +0000

The first sub clause of the first clause of article 5 of the Stamp Tax Law numbered 488 has been amended as “If a paper prepared more than one copy is subject to fixed tax, each copy is subject to stamp tax. If a paper prepared more than one copy is subject to proportional tax, only one of its copy is subject to stamp tax” with article 23 of the law numbered 6728 enacted 09.08.2016.

Before the amendment of the law, the copies of papers (subject to either fixed tax or proportional tax) were separately subject to both proportional tax and stamp tax.

In accordance with the amendment, if the taxable event occurs after the effective date (09.08.2016), only one copy of the paper prepared more than one copy and being subject to proportional tax will be subject to stamp tax.

For the papers being subject to fixed tax, each copy will be subject to tax.

Source: Stamp Tax Law