The threshold for the documentation requirement for collections and payments has been decreased from TL 8.000 to TL 7.000- by means of the General Communique ob Tax Procedure Law (No:459) which was published in the Official Gazette no 29572 dated December 24, 2015. The communique which will enter into force as from January 1, 2016 regulates the following;

In regards to change on the Tax Procedure Law General Communique ( NO:456) which has been published in official Gazette numbered 29577 and dated 29.12.2015, e-notification application starting date has been extended to 01.04.2016 instead of 01.01.2015 with the General Communique ( No:467).

Income and Corporate taxpayers can apply for e-notification until 01.04.2016.

Click here to view the relevant communique. Please contact with your customer representative or expert for detailed information

• Income Tax Exempted Food Allowance

Meal allowance tax exemption amount that is applied as of 1st January 2016 was announced in 290 serial numbered Income Tax General Communique on 25.12.2015 with Official Gazette. According to this announcement, meal allowance, which is provided by the employer outside of the workplace and workplace outbuildings as defined in the Income Tax Law's 23rd Articles, exemption amount is defined as 13,70 TL for 2016.

Many corporations prefer using cars of non-taxpayers or their personnel to process their trading operations due to financial advantages. Procedures and points that require close attention will be mentioned in this article.

Whether it is one-time trading operation or multiple, in order to avoid any possible vagueness and identify responsibilities of both parties, a contract must be agreed upon and signed. It is beneficial to include issues in the contract such as which party will make the payments of car insurance and vehicle maintenance. In this trading operation, two parties, car renter and car owner, will have different responsibilities. Therefore, firstly, we will examine the ‘car renter’.²