transportation – Muhasebe News https://www.muhasebenews.com Muhasebe News Mon, 11 Feb 2019 12:45:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 Is it required to include stamp tax on the letter of conveyance issued by an international transportation company? https://www.muhasebenews.com/en/is-it-required-to-include-stamp-tax-on-the-letter-of-conveyance-issued-by-an-international-transportation-company/ https://www.muhasebenews.com/en/is-it-required-to-include-stamp-tax-on-the-letter-of-conveyance-issued-by-an-international-transportation-company/#respond Mon, 11 Feb 2019 12:45:00 +0000 https://www.muhasebenews.com/?p=46486 If an international transportation company issues a letter of conveyance, it is possible for that company to benefit from the stamp tax exemption?

If the agreement is made in Turkey, the stamp tax is applied.

 

 

 

 

 

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/is-it-required-to-include-stamp-tax-on-the-letter-of-conveyance-issued-by-an-international-transportation-company/feed/ 0 What is the Scope of Income from Immovable Property in Turkish Taxation System? https://www.muhasebenews.com/en/what-is-the-scope-of-income-from-immovable-property-in-turkish-taxation-system/ https://www.muhasebenews.com/en/what-is-the-scope-of-income-from-immovable-property-in-turkish-taxation-system/#respond Thu, 04 May 2017 09:56:42 +0000 https://www.muhasebenews.com/?p=15142 Immovable property means real property which includes land buildings, and permanent leasehold rights. Ships, boats, aircraft and other types of transportation vehicles are also regarded as immovable property in the application of the PIT Law.
Income from immovable property comprises:
– Land, buildings, mineral water, mines, quarries, sand and pebble pits, brick and tile kilns, Salinas, together with their integral parts and accessories,
– Large fishing nets and traps,
– Integral parts and accessories of buildings, all their installations, inventory and furniture, leased independently from the building,
– Rights registered as real estate,
– Exploration, exploitation and concession and license, patent rights (The incomes earned by leasing the patents by the inventors or their legal heirs shall be the earnings of self-employment), the right of utilization or rights such as usage privileges on all kinds of trade mark, brand, trade name, all technical drawings, design, model, plan, cinema and television films, sound and video tapes; information acquired in the fields of industry, commerce and science, secret formula or production method (Also the costs of the material and equipment necessary for the utilization of such rights shall be considered as revenue from immovable),
– Copyrights (Earnings derived from the letting of such rights by the author or his legal heirs shall be considered as professional earnings),
– Ships and shares in ships (Without any consideration for their tonnage and whether they have an engine or not) and all motor vehicles of loading and unloading,
– Motorized transport and towing vehicles, all motor vehicles, machinery, installations and their attachments.

In computing net income from immovable property, costs related to maintenance, management, renovation and running, and depreciation may be deducted from the gross income on the actual basis; it is also allowed to make a lump-sum deduction instead of actual costs, except for the income from the lease of the rights mentioned above. In such cases, lump-sum deduction is 25% of the rental income.

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-is-the-scope-of-income-from-immovable-property-in-turkish-taxation-system/feed/ 0 Consumer Price Index in Turkey, February 2017 https://www.muhasebenews.com/en/consumer-price-index-in-turkey-february-2017/ https://www.muhasebenews.com/en/consumer-price-index-in-turkey-february-2017/#respond Mon, 27 Mar 2017 12:18:33 +0000 https://www.muhasebenews.com/?p=12028 Consumer price index (CPI) increased by 0.81% in February 2017
A rise in general index was realized in CPI (2003=100) on the previous month by 0.81%, on December of the previous year by 3.29%, on same month of the previous year by 10.13% and on the twelve months moving averages basis by 7.88% in February 2017.

The highest monthly increase was 2.82% in transportation
In February 2017, the indices rose for health 2.17%, for miscellaneous goods and services 1.38%, for housing 1.18% and for recreation and culture 0.89%.

The highest monthly decrease was observed by 3.35% in clothing and footwear
In February 2017, the other group that indicated a decrease was furnishings and household equipment by 0.67% amongst the main groups.

The highest annual increase was 21.72% in alcoholic beverages and tobacco
Transportation 17.96%, miscellaneous goods and services 12.82%, health 12.53%, education 9.33% were the other main groups where high annual increases were realized.

The highest monthly increase was 1.34% in TR90 (Trabzon, Ordu, Giresun, Rize, Artvin, Gümüşhane)
The highest increases in CPI were recorded in TRC1 (Gaziantep, Adıyaman, Kilis) region with 4.44% compared with the December of the previous year, TR81 (Zonguldak, Karabük, Bartın) region with 12.24% compared with the same month of the previous year and in TR62 (Adana, Mersin) region with 9.44% on the twelve months moving averages basis.

In February 2017 within average prices of 414 items in the index, average prices of 40 items remained unchanged while average prices of 270 items increased and average prices of 104 items decreased.

Consumer price index, February 2017
[2003=100]

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/consumer-price-index-in-turkey-february-2017/feed/ 0 Transportation and Logistics in Turkey https://www.muhasebenews.com/en/transportation-and-logistics-in-turkey/ https://www.muhasebenews.com/en/transportation-and-logistics-in-turkey/#respond Mon, 13 Mar 2017 08:59:03 +0000 http://www.muhasebenews.com/?p=10438 Turkey, one of the most vibrant economies among emerging countries, sits at the heart of a major crossroads in global trade, bridging East and West, Europe and Asia.

Turkey’s strategic location provides access within a four-hour flight radius to multiple markets with a combined population of 1.6 billion people, a combined GDP of USD 27 trillion, and more than USD 8 trillion of foreign trade, which corresponds to around half of the total global trade. Trade in Turkey has been rising significantly, and the region as a whole has more of a presence in global trade. In 2015, Turkey was responsible for 1.05 percent of the global trade volume, and the country’s share in global trade is expected to exceed 1.5 percent by 2023.

The Turkish economy, which has been growing at an average annual growth rate of almost 4.7 percent over the last 13 years, provides many opportunities for the logistics sector. In addition to its robust economic growth, Turkey has one of the largest and youngest labor pools in Europe. More than 65 percent of Turkey’s population is aged between 24 and 54, and the strength of this labor force is reflected in the logistics industry. Investors can easily hire a talented workforce at a competitive cost to address the complex demands of the industry.

Public and private infrastructure investments in the last ten years have significantly improved the logistics services provided in Turkey. Many new airports have been built, and highways have spread across the country. In addition, the burgeoning high-speed train network has begun connecting major cities and the capacity of Turkish ports has been increased. Turkey is also building 20 logistics centers/villages, of which 7 have been completed, that will serve to lower the costs of transportation by offering various modes of transportation within these centers/villages.

The Turkish government has set challenging targets to be achieved by 2023 in an effort to further improve the logistics infrastructure. These targets include, but are not limited to:

  • Having a total road network of 70,000 km, with 36,500 km of it being dual carriage way and 8,000 km of it being highway
  • Having a total railway network of 25,000 km, of which 12,000 km will be high-speed railway
  • Increasing annual passenger transportation to 1 billion persons and freight transportation to 125 million tons
  • Increasing the total number of passenger airplanes from 487 to 750
  • Constructing new airports in a move to increase total annual capacity to 400 million passengers
  • Increasing container handling capacity from 8.4 million TEU to 32 million TEU
  • Increasing vessel fleet carrying capacity from 29.2 million DWT to 50 million DWT
  • Building one port in each of the three seas surrounding Turkey

Turkey’s advantageous geographical location, which provides easy access to Eastern Europe, Central Asia, the Middle East, and North Africa, allows the country to function as a hub for the freight carried in the region. The current size of Turkey’s logistics industry is such that it accounts for 12-13 percent of the country’s GDP. Immense growth is expected according to 2023 GDP targets, with the industry estimated to reach a volume of USD 200-240 billion by 2023.

 Date: 13 March 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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