A discount was provided for some good deliveries’ VAT, Special Consumption Tax (“SCT”) and title deed fees to be applied between 31.10.2018 – 31.12.2018 with the 287 numbered Presidential Decree which is published on 31.10.2018 dated and 30581 numbered repetitive Official Gazette. Afterwards, the Presidential Decrees with the number of 535, 540 and 541 has regulated that this discount duration for some good deliveries’ VAT, SCT and Title Deed Fee shall be extended for 3 months until 31.03.2019.

The 306 Serial numbered General Communique on Income Tax (the “Communique”) has published on the Official Gazette on 15.03.2019. the Communique has brought explanation regarding the procedure to be applied for the implementations that are brought with the 7161 and 7162 numbered Laws of which regulate the topics as follows: tradesman exemption for the sales made online, income tax exception for flight and diving services, income tax return for the compensations to be made to the ex-employees signed a settlement agreement and income tax exception for compensation payments.

The 7161 numbered Law published with the 17.01.2019 dated Official Gazette and the 7162 numbered Law published on the 30.01.2019 dated Official Gazette, were regulated these subjects:

The “Communique (serial no. 307) on Amending the General Income Tax Communique (serial no. 301)” (hereinafter referred to as the “Communique”) has been published on the Official Gazette on the date of 15.03.2019 by the Ministry of Treasury and Finance (Revenue Administration). A regulation is made with the Communique regarding the raise of the deduction limit to be considered in the deduction provisions in the annual income and corporate tax declarations as of 01.01.2019.

As is known, there have been some amendments on the General Implementation Communique on Value Added Taxes published on the 26.4.2014 dated and 28983 numbered Official Gazette with the “COMMUNIQUE ON THE AMENDMENT OF THE GENERAL IMPLEMENTATION COMMUNIQUE ON VAT” published on 15.02.2019 dated and 30687 numbered Official Gazette.

Below you may find our detailed explanations on the issue of bad debts brought with this amendment: