By virtue of the procedures and principles explained in the General Communique with the serial number 486 of the Tax Procedure Law, Self-Employment Income Ledgers will no longer be kept in hard-copy form and starting as of 01.01.2018. These ledgers will be kept electronically on the internet system of the Directorate of Revenue Administration by the “Ledger Declaration” method.

The details of the tax reduction to be applied to taxpayers who are compliant with their tax duty have been clarified by virtue of the Income Tax General Communique Numbered 301 published in the Official Gazette No 30279 dated December 23, 2017.

The stipulated arrangement allows the taxpayers of annual income tax as well as the taxpayers of corporate tax, except for those operating in finance and banking sectors, insurance and reinsurance companies, pension companies and pension investment funds, to deduct 5% of the taxes calculated on the basis of their income or corporate tax returns, from their income or corporate taxes required to be paid.

With the Regulation published in the Official Gazette dated 05.12.2017, significant amendments have been made to the Regulation on Social Security Transactions. The provisions of said Regulation will enter into force as of 01.01.2018.

It was sufficient for the public offices, workplaces which conduct business by drawing up collective labor agreements, as well as private sector companies in respect of the months in which 10 or more insured employees are employed, to state the reasons of the missing days on the monthly premium and service declarations, without the requirement of submitting a separate missing day declaration. By virtue of said Regulation, amendments have been made in respect of the declarations to be made by the workplaces employing less than 10 insured employees.

We have announced the regulation which came into force the on the Social Security Institution Applications on our article dated 13.12.2017.

It has been announced that; “November 2017 social security (SSI) premiums payable for the employee who earns a wage in exchange for the services provided during the first and thirtieth day of a month, along with the deferred February 2017 premiums all shall be paid to the SSI on 26.12.2017, the latest.