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Taxation Law

 
22Şubat2021

Rate and Scope Updated in VAT Partial Stoppage Application

Amendments have been made regarding the rate of partial stoppage applications and its scope with the Communiqué (Row No: 35) on Amending the Communiqué of Value Added Tax General Application, which was published in the Official Gazette No. 31397 on 16 February 2021.

Related amendments are as follows;

Yazar Selma Kıy, Kategori Taxation Law

16Şubat2021

Financing Expense Restriction Started

With the presidential Decree No. 3490, published on Official Gazette No. 31385, as of 01.01.2021, the enterprises whose foreign resources exceed equity, 10% of the total of interest, commission, maturity difference, dividend, exchange rate difference, similar expenses and cost elements related to the foreign resources used in the enterprise, excluding those added to the cost of the investment, will not be considered as an expense in determining the earnings by income and corporate tax taxpayers.

Within the scope of the decision, credit institutions, financial institutions, financial leasing, and factoring companies are excluded.

Decision will be effective as of 2021/01 Temporary Taxation Period.

The application principles for income and corporate taxpayers in the taxation of earnings as of 2021/01 are as follows;

Yazar Selma Kıy, Kategori Taxation Law

12Şubat2021

2021 I. Period Travel Expense Amounts Exempt From Income Tax

In accordance with the letter of the Ministry of Treasury and Finance, General Directorate of Public Financial Management and Transformation dated 6/01/2021 and numbered 27998389-010.06.02-11638, the expense limits exempt from income tax for the period of 1 January 2021 - 30 June 2021 has been announced.

The Tax-Exempt Amounts of Domestic Travel Expenses

The tax-exempt amounts of domestic travel allowances for the period of 01 January 2021 and 30 June 2021 are as below.

Monthly Gross Amounts (TRY)
for the period of
1.1.2021-30.06.2021
Daily Amount Exempt From Tax (TRY) Reference Column As The Basis of Travel Expense
4,169.88 TRY and more 73,50 II
4,140.04 4,169.87 TRY in between 61,65 III
3,775.31 4,140.03 TRY in between 57,55 IV
3,311.11 3,775.30 TRY in between 54,05 V
2,746.61 3,311.10 TRY in between 47,65 VI
2,746.60 TRY and less 46,35 VII

Yazar Erdoğdu Onur Erol, Kategori Taxation Law

08Şubat2021

Minimum Subsistence Allowance Status Updates

As known, per the Article 32 of the Income Tax Law, the marital status and family status of the employees are taken as basis in determining the Minimum Subsistence Allowance amount.

Changes in marital status and family status must be notified to the employers within 1 month at the latest.

These changes are notified to the employer with the Minimum Subsistence Allowance Form.

With regards to this, any incorrect calculation can be prevented if the employers remind the employees about the updates on marital or family statuses via MSA forms.

Yazar Erdoğdu Onur Erol, Kategori Taxation Law

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